Oil product inventories at Fujairah in the UAE were little changed in the week ended Feb. 23 as heavy distillates gained while light and middle distillates shrank, according to Fujairah Oil Industry Zone data published Feb. 25.

The total dropped 0.1% in the week to 20.528 million barrels, the third decline in four weeks.

Light distillates, including gasoline and naphtha, fell 1.5% to 9.737 million barrels from a six-month high a week earlier, while heavy distillates used as fuel oil for power generation and shipping climbed 3.1% to 7.870 million barrels, the first increase in four weeks.

Middle distillates, such as jet fuel and diesel, dropped 3.5% to 2.921 million barrels, a three-week low.

Platts, part of S&P Global Energy, assessed low-sulfur marine fuel 0.5% bunker delivered in Fujairah at $500/metric ton on Feb. 23, near the five-month high of $501/mt set on Feb. 20. That compares with $414/mt for high-sulfur fuel oil 380 CST delivered in Fujairah on Feb. 23, down 3.7% from a seven-month high of $430/mt set Feb. 19.
Source: Platts