Fuel oil stocks are building up at the Middle Eastern port. Image Credit: File Image / Pixabay
Stocks of fuel oil in Fujairah have climbed to the highest level in a month, according to data from the Fujairah Oil Industry Zone and price reporting agency S&P Global Platts.
Inventories of heavy distillates and residues at the Middle Eastern hub jumped by 15% to 11.794 million barrels in the week to Monday, the most since 9 December.
This category of stocks includes both high- and low-sulfur bunker fuels, as well as fuel oil used for power generation.
Middle distillate inventories sank by 26% to 3.159 million barrels over the same period.