Fujairah oil products stockpiles edge upwards | ZAWYA MENA Edition – ZAWYA

Fujairah oil products stockpiles edge upwards | ZAWYA MENA Edition – ZAWYA

Fujairah oil products stockpiles edge upwards Fujairah oil products stockpiles edge upwards | ZAWYA MENA Edition HomeMarketsCommoditiesArticleFujairah oil products stockpiles edge upwards Total stockpiles were up 0.3%    Oil pipeline. Image used for illustrative purpose. FUJAIRAH (WAM / S & P Platts)- Inventories of oil products at the UAE's East Coast port of Fujairah have climbed for the first time in three weeks, led by gains in gasoline and other light distillates.Total stockpiles were up 0.3 per cent on the week to 30.218 million barrels as of 22nd June, after setting a record high of 30.71 million barrels on 1st June, according to data released 24th June from the Fujairah Oil Industry Zone, FOIZ. Light distillates rose 10 per cent to 8.244 million barrels, while both middle and heavy distillates declined.Fujairah stockpiles are a clue to regional demand for refined products, with total inventories setting four record highs since early May as the global pandemic curbed the need for everything from gasoline to jet fuel and marine fuel. As the authorities in the region began to ease restrictions on movements, light and middle distillates inventories have declined this month.Total stockpiles were up 0.3 per cent on the week to 30.218