Fujairah oil products stockpiles extend decline

Fujairah oil products stockpiles extend decline

FUJAIRAH - Stockpiles of oil products at the UAE's East Coast Port of Fujairah dropped for a third consecutive week to the lowest in almost five months, led by declines in marine bunkers and power fuels.The total stood at 23.241 million barrels as of 14th September, down 0.3 percent from a week earlier and the lowest since 20th April, according to data from the Fujairah Oil Industry Zone issued today. Heavy distillates, which covers fuels for ships and for power generation, declined 6 percent to 12.552 million barrels, the lowest since 9th March.Fujairah heavy distillates exports reached 9.088 million barrels in August, the most since January, according to data from Kpler. Fujairah recently shipped 750,000 barrels of high sulphur fuel oil to Saudi Arabia's Shuqaiq power plant, the data show.Many