Fujairah data: Oil product stocks surge to 8-week high, led by heavy distillates
Stockpiles of oil products at the UAE port of Fujairah rose 13.5% in the week to April 19, marking an eight-week high, with the biggest increase recorded in heavy distillates, the latest data from the Fujairah Oil Industry Zone showed.
The total stockpile stood at 21.656 million barrels, up by 2.569 million barrels from a week ago and the highest since Feb. 22, when it was at 23.180 million barrels, according to the data provided exclusively to S&P Global Platts on April 21.
Heavy distillates stockpiles, including fuel for power generation and bunkers, increased by almost 30% to 12.946 million barrels, the highest level since Sept. 7, 2020, the data showed.
Dubai Stockpiles of oil products at the UAE port of Fujairah rose 13.5% in the week to April 19, marking an eight-week high, with the biggest increase recorded in heavy distillates, the latest data from the Fujairah Oil Industry Zone showed.
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The total stood at 21.656 million barrels, an uptick of 2.569 million barrels from the previous week, according to the data provided exclusively to S&P Global Platts on April 21.
Heavy distillates, including fuel for power generation and bunkers, increased by 29.5% to 12.946 million barrels, the highest level since mid-September, the data showed.
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By Jessica Jaganathan SINGAPORE (Reuters) - Oil prices rose to over one-month highs on Tuesday as a weaker U.S. dollar supported commodities and on expectations that crude inventories fell in the United States, the world s biggest oil user, though rising coronavirus cases in Asia capped gains. Brent crude futures for June delivery had risen by 66 cents, or 1%, to $67.71 a barrel as at 0642 GMT after earlier hitting a session high of $67.97. U.S. West Texas Intermediate (WTI) crude futures for May delivery, which expire on Tuesday, were up 70 cents, or 1.1%, at $64.08 barrel. The more-active June contract was at $64.02, up 0.9%, or 59 cents.