UAE's Fujairah refined product stocks jump 13 pct after Aramco attacks

Source: Xinhua| 2019-09-18 23:05:27|Editor: Mu Xuequan
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DUBAI, Sept. 18 (Xinhua) -- Refined product stocks at Fujairah, United Arab Emirates (UAE), climbed by 13 percent in the week to Sept. 16 with increases in all categories after two Aramco oil facilities in Saudi Arabia were attacked, according to official news agency WAM on Wednesday.

According to data released by the Fujairah Oil Industry Zone (FOIZ), total inventories rose to 19.675 million barrels, the highest in two weeks, after falling 13 percent a week earlier.

The largest increase was in middle distillates, which rose 43 percent to 2.102 million barrels.

Gasoil prices in the East of Suez region rallied after the attacks in Saudi Arabia on Saturday and the outlook is bullish, said S&P Global Platts Analytics, the official publisher of the data, adding that the pricing is still attractive to move middle distillates to Europe from East of Suez.

The Saudi incidents had no impact on bunkering operations except for pricing, a trader said.