Oil products in Fujairah low in two-weeks - GulfToday

Oil products in Fujairah low in two-weeks

Picture used for illustrative purpose. File

Gulf Today Report

Stockpiles of oil products in Fujairah declined, reaching a two-week low. Heavy distillates and residues also slumped, reaching a 15-month low.

On Monday, stockpiles inventories amounted to 19.671 million barrels, lower by 2.8 per cent from a week earlier, making it the lowest since 26th October when it was at a 13-month low.

Also, heavy distillates and residues stood at 8.941 million barrels, 6 per cent less from the previous week and the lowest since 29th July 2019. 



The road to normal corporate travel is far away

Gold climbs as concern over coronavirus cases increase

European, Asian shares rise over the prospect of a COVID-19 vaccine

The future of fuel supplies will most likely be tight due to Bahrain Petroleum Co exiting the oil business by 2025, said Bapco Chairman Dawood Nassif in a Gulf Intelligence interview.

On Tuesday, Fujairah completed a marine fuel supply with 0.5% sulphur, which was assessed at US $355/mt, equal to Singapore the world’s largest bunker market.

On Monday, diesel amounted 5.356 million barrels, less than 2 per cent from the previous week. Gasoline was 5.374 million barrels, more than 1 per cent.

Related articles