Fujairah oil product stocks rebound from 13-month low

Fujairah oil product stocks rebound from 13-month low

Fujairah / WAMOil product stockpiles at the UAE's Fujairah port rebounded from a 13-month low, with middle distillates expanding to near the record high set in June. Inventories as of November 2 were at 20.243 million barrels, up 9.6% from a week earlier, according to data released on Wednesday from the Fujairah Oil Industry Zone. Stocks of jet fuel, diesel and other middle distillates climbed 26% on the week to 5.447 million barrels, the highest since June 15 and close to the record 5.997 million barrels set on June 1, according to data provided exclusively to S&P Global Platts. Stockpiles of light distillates such as gasoline also jumped 26 percent to 5.303 million barrels, after hitting a record low on 26th October.Heavy distillates and residues such as marine bunkers and