Oil product inventories at the UAE's Port of Fujairah decreased by 0.4% in the week ending April 21, reaching a total of 22.023 million barrels, the lowest in four weeks, according to data from the Fujairah Oil Industry Zone published on April 23.
Heavy distillates, including fuel oils used for power generation and shipping, declined by 3.4% to 10.623 million barrels, following a 17% drop the previous week.
Middle distillates, such as jet fuel and diesel, fell by 6% to 2.489 million barrels, also marking a four-week low.
In contrast, light distillates, including gasoline and naphtha, increased by 5.3% to 8.911 million barrels, a two-week high.
Saudi Arabia has been importing fuel oils from Fujairah for the past three months, with April volumes at 30,000 barrels per day, the highest since January 2024.
All shipments were discharged at Jeddah, according to S&P Global Commodities at Sea ship-tracking data. Fuel oil demand for power generation typically peaks during the hot summer months due to increased air conditioning usage.
Fuel oil exports from Fujairah in April are averaging 331,000 barrels per day, compared to 315,000 barrels per day in March.
Platts, a division of S&P Global Commodity Insights, assessed Fujairah-delivered low sulfur fuel oil at $491 per metric ton on April 22, up 6.5% from this year's low on April 9. High sulfur fuel oil delivered to Fujairah has increased by 11% over the same period.
The Fujairah Oil Industry Zone is a strategic energy hub located in the Emirate of Fujairah, UAE. It hosts a range of oil storage and trading facilities and is one of the world's leading bunkering centers. FOIZ provides weekly inventory data to promote transparency and support market participants in making informed decisions.