Oil products stockpiles at Fujairah in the UAE rose 4.2% in the week to Jan. 12, led by a 13% increase in heavy distillates used as fuel oil for power generation and shipping, according to Fujairah Oil Industry Zone data published Jan. 14.

The total rose to 19.769 million barrels, a three-week high and the second consecutive increase. Heavy distillates rose to 10.041 million barrels, the first increase in five weeks from a two-month low a week earlier.

Light distillates, including gasoline and naphtha, fell 6.5% to 7.162 million barrels from an eight-week high a week earlier. Middle distillates, such as jet fuel and diesel, increased 6.8% to 2.566 million barrels, the most in four weeks.

The Platts-assessed low-sulfur marine fuel 0.5% bunker delivered in Fujairah was at $432/mt Jan. 13, compared with $334/mt for high-sulfur fuel oil 380 CST delivered in Fujairah. Platts is part of S&P Global Energy.
Source: Platts