FUJAIRAH DATA: Inventories of petroleum products plummet, driven by decline in light distillates



Strong points

Light distillate stocks drop to 13-month low

Withdrawal of shipments of naphtha: Kpler

Bunker Traders Increase Sales Before Year End

Inventories of petroleum products fell to their lowest level in 12 weeks as of December 13, due to a drop in gasoline, naphtha and other light distillates, according to data from the Petroleum Industry Zone from Fujairah supplied exclusively to S&P Global Platts on December 15.

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Total inventory stood at 15.312 million barrels as of December 13, down 2.9% from the previous week, the lowest since September 20.

Light distillates led the way with a 4.4% drop to 4.205 million barrels, the lowest since October 26, 2020.

Fujairah’s petrochemical feedstock naphtha exports in November resumed, with shipments to Taiwan at their highest since June 2019 and India braces for its first import of naphtha from Fujairah since February, according to data from Kpler’s expedition.

Heavy distillates and tailings, including fuel for power generation and marine bunkers, fell 2.4% to 8.81 million barrels, a six-week low.

“More of the low sulfur fuel oil complex was sold last week as suppliers hope to close trade positions to prepare for year-end,” a Fujairah bunker supplier said. Freight activity has started to slow as the holidays approach, traders said.

There are also signs of dwindling supplies in Singapore, the world’s largest bunkering center. Singapore’s 0.5% S marine fuel offset from December to January has widened since November and stood at $ 13 / mt as of December 14 due to reduced inflows into the Asian market, traders said. from Singapore.

For HSFO in Fujairah, bunker suppliers have been aggressive sellers to increase sales, local bunker suppliers said.

Middle distillates stood at 2.297 million barrels as of Dec. 13, down 2.2% from the previous week to a four-week low. The category includes gas oil / diesel, jet fuel and kerosene.


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