EMEA News
Fujairah Bunker Stocks Climb to Record High
Wednesday April 8, 2020
Stocks of fuel oil at the Middle Eastern hub of Fujairah have risen to record levels, according to data from the Fujairah Oil Industry Zone and price reporting agency S&P Global Platts.
Heavy distillate and residue stocks gained 7% to 15.445 million barrels in the week to Monday, Platts reported Wednesday, the highest level since the data started to be compiled in January 2017.
The category includes both high- and low-sulfur bunker fuels, as well as fuel oil used for power generation.
Very low sulfur fuel oil prices at Fujairah were little changed over the week, according to Ship & Bunker pricing, gaining just 50¢/mt to $276.50/mt by Monday.
