EMEA News
Fujairah Fuel Oil Stocks Climb to Three-Week High
Wednesday May 6, 2020
Stocks of fuel oil at the Middle Eastern hub of Fujairah have jumped to a three-week high on improved bunker demand, according to data from the Fujairah Oil Industry Zone and price reporting agency S&P Global Platts.
Heavy distillate and residue stocks at Fujairah jumped by 12% in the week to Monday to reach 12.621 million barrels, Platts reported Wednesdsay.
The category includes both high- and low-sulfur bunker fuels, as well as fuel oil used in industry and for power generation.
Very low sulfur fuel oil prices at Fujairah climbed by $26.50/mt on the week to $223/mt by Monday, according to Ship & Bunker pricing, and their discount to Singapore's levels narrowed by $8/mt to $15.50/mt.
