Stocks were at their lowest a year ago
Residuals skyrocket 78% YoY
Middle distillates also up year on year
Petroleum product inventories at the port of Fujairah in the United Arab Emirates hit their highest level in nearly two years on September 26, with a 58% increase in middle distillates in the lead, according to data from the area of the United Arab Emirates. Fujairah oil industry.
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Total inventory was 24.559 million barrels as of September 26, up 11.6% from the previous week and the most since December 14, 2020, according to data provided exclusively to S&P Global Commodity Insights.
Middle distillates such as jet fuel and gas oil jumped to 4.706 million barrels, the highest since February 1, 2021, and light distillates such as gasoline and naphtha rose 14.3% over the same period for reach 7.404 million barrels, the highest since August 21.
Only heavy distillates and residues used as fuel oil for power generation and marine bunkers fell for the week of September 26, down 0.8% to 12.449 million barrels.
All product categories are now higher than the same period last year, with the total up 63.7% from the all-time high of 14.998 million barrels set on September 20, 2021. now 53.7 % more than at the same time last year. Light distillates were up 49.4% on the year and heavy distillates jumped 78.35%, the data showed.