Fujairah Oil Product Stocks Rebound from Eight-Month Low, Driven by Jet Fuel Segment

• Jet fuel and other middle distillates increased by 23% within a single week
• Fuel oil inventories remain lower on a year-to-date basis
• Total inventories have risen by 3% since the end of 2024

Oil product inventories at the Port of Fujairah increased by 3.3% in the week ending August 25, reaching a total of 16.009 million barrels. The growth was primarily supported by a 23% rise in jet fuel and other middle distillates, with stockpiles climbing to 1.886 million barrels, rebounding from a recent low. Heavy distillates, used for shipping and power generation, also expanded by 5.6% to 6.463 million barrels, though levels remain 14% lower than at the end of 2024. In contrast, light distillates, including gasoline and naphtha, declined by 2.3% to 7.660 million barrels, yet remain 26% above year-end 2024 levels.

Preliminary data indicate that Fujairah’s refined product exports averaged 551,000 b/d in August, down from 667,000 b/d in July, with fuel oil continuing to represent the largest share at 222,000 b/d.

Market conditions showed diverging trends between high-sulfur and low-sulfur fuel oil. Demand for high-sulfur fuel oil (HSFO) remained steady, supported by recent replenishment cargoes allocated within the Fujairah hub. However, the HSFO bunker premium eased to an average of $12.40/mt in August, compared with $14.91/mt in July. Meanwhile, low-sulfur fuel oil (LSFO) supplies tightened, lifting premiums to $6.65/mt in August, up from $4.77/mt in July. The LSFO premium further strengthened to $13.47/mt, nearing a six-month high.

Source: S&P Global – August 27, 2025