EMEA News
Fujairah Fuel Oil Stocks Gain Most in Six Months
Thursday October 22, 2020
Fuel oil stocks at the Middle Eastern hub of Fujairah have made the biggest weekly advance in six months, according to data from the Fujairah Oil Industry Zone and price reporting agency S&P Global Platts.
Heavy distillate and residue stocks at the port surged by 16% to 10.361 million barrels in the week to Monday, Platts reported Wednesday, the sharpest rise since February 24.
The category includes both high- and low-sulfur bunker fuels, as well as fuel oil used for power generation and in industry.
VLSFO prices at the port slipped by $1.50/mt to $341.50/mt over the week, according to Ship & Bunker pricing.
