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Stockpiles of oil products at the UAE’s Port of Fujairah reached a three-week low on August 7th. Middle distillates, including jet fuel and diesel, fell by 17% from the previous week to 2.199 million barrels, the lowest level since February 27th. This information is based on data from the Fujairah Oil Industry Zone (FOIZ).
Total inventories at the port also fell, decreasing by 6.1% for the week and 10% since the end of 2022. The total inventory as of August 7th was 18.516 million barrels, the lowest level since July 17th.
While stocks of middle distillates have been dropping for five…
