Oil product stockpiles at Fujairah climb 11%

Oil product stockpiles at Fujairah climb 11%

Oil product stockpiles at Fujairah climb 11% Admin 15 hours ago Local NewsFujairah / WAMStockpiles of oil products at the crude trading and bunkering hub of Fujairah on the UAE East Coast jumped to a six-week high, with marine bunkers and fuel for power generation soaring the most in six months. The stockpiles stood at 26.681 million barrels as of August 24, up 1 per cent from a week earlier, according to data released on Wednesday by the Fujairah Oil Industry Zone (FOIZ). It was the biggest weekly gain since February 24 and the highest total since July 13, according to FOIZ data provided exclusively to S&P Global Platts. Heavy distillates jumped 13 percent, the most since February 24, at 15.486 million barrels. Inventories had been falling since