FUJAIRAH DATA: Oil product stocks fall nearly 7% to new record low

AI Summary

Oil product stocks at Fujairah in the UAE have fallen nearly 7%, reaching a record low due to ongoing conflicts affecting supply dynamics. The decline persists as energy challenges mount amidst geopolitical tensions.

Oil product inventories at Fujairah in the UAE fell 6.9% in the week ended May 4 to 6.501 million barrels, reaching a record low for the fifth straight week and extending the drop since the US-Iran war started to 69%, according to Fujairah Oil Industry Zone data published May 6. The total inventories have now ...