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Refined oil product inventories in Fujairah, the United Arab Emirates (UAE), dropped below 10 million barrels (mmbbl) on April 15, marking their lowest level in at least nine years, according to latest data reported by Reuters.
The decline comes as the ongoing conflict between the US and Iran continues to disrupt energy supplies across the region. The tensions have impacted key shipping routes and logistics, tightening the availability of refined products.
Fujairah, one of the world’s major oil storage and…
