Oil product stockpiles at Fujairah in the UAE jumped 17% in the week ended Nov. 10, led by a 27% gain in heavy distillates used as fuel oil for power generation and shipping, according to Fujairah Oil Industry Zone data published Nov. 12.

The total climbed to 21.811 million barrels, the highest in six months. Inventories were up 40% since the end of 2024, the data showed.

Heavy distillate stocks rose to 11.012 million barrels, the highest in seven months. Light distillate inventories, including gasoline and naphtha, gained 16% to 7.787 million barrels, but remained below heavy distillates for the second consecutive week, according to the data.

Middle distillates, such as jet fuel and diesel, fell 6.9% to 3.012 million barrels, a four-week low, FOIZ data showed.

Refined product exports from Fujairah averaged 623,000 b/d in October, down from 649,000 b/d in September and the lowest since June, according to the latest S&P Global Commodities at Sea(opens in a new tab) data.

Heavy distillate stocks have risen 47% since the end of 2024, while light distillates have climbed 28% and middle distillates rose 53%, according to the FOIZ data compiled by S&P Global Commodity Insights since 2017.
Source: Platts