Middle distillates

Fujairah Stockpiles Climb To 2-week High, 22% Gain in Middle Distillates

  • Light distillates up 73% this year
  • Heavy distillates still close to 17-month high
  • Bunker prices, sales at Fujairah fall

Oil product stockpiles at the UAE’s Port of Fujairah climbed 5.4% to a two-week high in the week ended Nov. 21, led by gains in light and middle distillates stocks, reports Platts quoting the Fujairah Oil Industry Zone data published Nov. 23.

Total inventories were 25.143 million barrels as of Nov. 21, the highest since Nov. 7 when stockpiles were at a two-year high, the data...

https://mfame.guru/fujairah-stockpiles-climb-to-2-week-high-22-gain-in-middle-distillates/

Fujairah Fuel Oil Stocks Soar High

Oil stocks including those of bunker fuel at the Middle Eastern bunkering and shipping hub of Fujairah have risen to their highest level since late August, reports Ship & Bunker citing Fujairah Oil Industry Zone data.

Fuel oil stocks

Total barrels stood at 24.6 million in mid-December. There were last higher on August 31 at 25.1 million barrels, according to the report.

  • Heavy distillates including fuel for power generation and bunkers were up 11% to 11.3 million barrels in the previous week (to...

https://mfame.guru/fujairah-fuel-oil-stocks-soar-high/

Oil Stocks Witness 9-Month Lows Wiping Off 2020 Gains

  • Fujairah stockpiles on the UAE’s East Coast tumbled to a nine-month low wiping out gains for the year.
  • Stockpiles have dropped for a record seven weeks in a row and have declined a whopping 36% since the record high of 30.71 million barrels.
  • Exports of heavy distillates from Fujairah in the week started October 5 soared to 3.39 million barrels.
  • Middle distillates stocks, including jet fuel and gasoil, jumped 15% in the week ended October 12 to 4.435 million barrels, a three-week high.
  • Light...

https://mfame.guru/oil-stocks-witness-9-month-lows-wiping-off-2020-gains/

Fujairah Witnesses Oil Stockpiles as Distillates Take a Tumble

Oil products stockpiles at the Fujairah trading hub in the UAE ended 2019 with their biggest annual gain, led by a more than doubling in middle distillates such as jet fuel, reports Platts.

Significant decline in oil products

Total volumes in the port rose 7% for the year to 18.568 million barrels after a 2.3% gain in 2018 and a 12% drop in 2017, according to data from the Fujairah Oil Industry Zone and compiled by S&P Global Platts. The figures updated  showed a 16% decline for the week to...

http://mfame.guru/fujairah-witnesses-oil-stockpiles-as-distillates-take-a-tumble/

IMO 2020 Impact To Be Less Disruptive Than Previously Feared, Says OPEC

According to a Platts report, OPEC says that Marine fuel regulations on sulfur that go into effect January 1 will have a less disruptive but still considerable impact to the oil market than previously feared.

Market stresses 

OPEC said in its World Oil Outlook that some of the market stresses will be mitigated with 

  • Lower expected oil demand growth, 
  • a pick-up in the pace of scrubber installations and 
  • increases in the availability of compliant fuel.
Impact not disruptive as expected

“Recent...

http://mfame.guru/imo-2020-impact-to-be-less-disruptive-than-previously-feared-says-opec/

Chinese Demand for Angolan Oil Revives Ahead of IMO 2020

Angolan oil sales are bouncing back from a dull summer as Asian refining margins have recovered and demand is rising ahead of IMO 2020 a major change in marine fuel standards, reports Reuters.

Strong september

Crude from Africa’s second-largest exporter after Nigeria flowed to its top customer China in the lowest volumes in nearly five years in July, Refinitiv Eikon data shows.

One major seller of Angolan crude said:

  • August is shaping up to be even weaker than June and July, but September has a...

http://mfame.guru/chinese-demand-for-angolan-oil-revives-ahead-of-imo-2020/

[Watch] How European Low Gas Prices Have the Markets Under Pressure

In the recent Platts Market Movers, with associate editor Gary Clark, Nord Stream gas pipeline is set to return from its maintenance shutdown.

This happens at the juncture when gas prices in Europe reach a 10-year low, with thermal coal prices facing considerable downward pressure due to cheap gas and shipping delays.

Middle distillates traders will be watching the diesel arbitrage to Europe, and steelmakers announce earnings this week amid weak demand and high production costs.

Did you subscribe...

http://mfame.guru/watch-how-european-low-gas-prices-have-the-markets-under-pressure/

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.