Fujairah oil products stocks drop across the board

London (Quantum Commodity Intelligence) - Stocks of oil products at the Port of Fujairah in the United Arab Emirates have dropped across the board, with middle distillates hitting a one-year low after the first jet fuel shipment this year, according to S&P Global Platts.

Total inventories stood at 19.087 million barrels as of April 12, down 8.1% from a week earlier and the lowest in three weeks, according to Fujairah Oil Industry Zone.

Stocks of middle distillates, including jet fuel, gasoil, diesel, marine bunker gasoil and kerosene, stood at 3.082 million barrels, down 8% from a week earlier and the lowest since April 13, 2020.

Traders had at least 670,000 barrels of middle distillates set for export from Fujairah in the week started April 5, which included the first jet shipment this year, according to data intelligence firm Kpler.

A shipment of 350,000 barrels of jet was headed for Seychelles and another 330,000 barrels of gasoil was destined for Yemen, the data showed.