EMEA News
Fujairah Fuel Oil Stocks Gain 7% on Week
Wednesday March 18, 2020
Fuel oil stocks at the Middle Eastern hub of Fujairah gained 7% in the week to Monday, according to data from the Fujairah Oil Industry Zone and price reporting agency S&P Global Platts.
Heavy distillate and residue stocks climbed to 13.166 million barrels, Platts reported Wednesday, a two-week high.
The category includes both high- and low-sulfur fuel oil for bunkers, as well as fuel oil used for power generation.
Very low sulfur fuel oil (VLSFO) prices at Fujairah lost $49.50/mt over the week to $305/mt by Monday, according to Ship & Bunker pricing.
VLSFO prices at Singapore dropped by $33.50/mt to $304/mt over the same period.
