Traders hit as crude glut fills Fujairah hub

Traders hit as crude glut fills Fujairah hub

Port's 14 million barrels of commercial crude-storage capacity is just a fraction of what Saudi Arabia and Abu Dhabi provide for their state oil companies. Fujairah has cemented its position in the world's oil-storage and supply network over the last 30 years.. Terminal operators at Fujairah in the United Arab Emirates say they're turning down requests from traders and refiners to store crude and refined products, whereas a year ago they had ample space.. Fujairah, which hugs a ribbon of coastline between the craggy Hajjar Mountains and the Gulf of Oman, cemented its position in the world's oil-storage and supply network over the last 30 years..