Fujairah Data: Oil Products Stock Slump 8% in a Week!

Fujairah’s oil data slumped 7.9% in the past week to 23.721 million barrels as of May 6 and is considered to be the biggest drop in five months.
This decline has been attributed to the large increase to slow shipping demand for fuel because of the Arab embargo on Qatar and sanctions on Iran.
Stocks of light distillates, including gasoline, retreated 10% week on week, the biggest drop in seven months, to an eight-week low of 10.774 million barrels.

According to an article published by Platts,...