FUJAIRAH DATA: Oil product stockpiles rise to seven-week high

Stockpiles of oil products at the UAE's port of Fujairah rose 13% on the week in the week ending Oct. 2, their highest in seven weeks, according to data from the Fujairah Oil Industry Zone.

Total industries rose to 18.573 million barrels, down 9% since the start of the year, the FOIZ data published Oct. 3 showed.

Light distillate inventories rose 14% on the week to 4.589 million barrels, reversing the previous week's fall but otherwise the lowest since May 2022. Middle distillates showed the lowest rise, increasing 5% on the week to 2.331 million barrels, the highest in seven weeks. Heavy distillates, used as fuel for power generation and shipping, rose 14% on the week to 11.653 million barrels, the highest in 17 weeks.

Oil product exports excluding fuel oil from Fujairah averaged an estimated 455,000 b/d for all of September, the lowest since April 2023, according to S&P Global Commodities at Sea data. Fuel oil exports averaged 312,000 b/d for the month, the highest since August 2022, the data show.