Fujairah Oil Product Stocks Post Sharpest Weekly Decline Since 2022
Key Takeaways
- •Fujairah's total oil product inventories fell 23% to 6.511 million barrels in the week ending July 27, 2026, the largest weekly decline since February 2022.
- •Heavy distillates, primarily used as marine bunkering fuel, dropped 41% to 3.488 million barrels and were the main driver of the overall inventory decline.
- •Light distillates including gasoline and naphtha rose 41% to 1.581 million barrels, recovering from a record low set the previous week.
- •Traders cited war-related safety concerns as a factor delaying inventory replenishment, with resupply cargoes reportedly positioned offshore near Fujairah.
- •The Fujairah-delivered 380 CST HSFO bunker premium declined 2.9% day over day to $121.41 per metric ton, while demand for low-sulfur fuel oil remained limited.
Oil product inventories at the Port of Fujairah in the United Arab Emirates fell 23% in the week ending July 27, 2026, marking the steepest weekly decline since February 2022, according to Fujairah Oil Industry Zone (FOIZ) data published on July 29.
Fujairah, situated on the Gulf of Oman coastline outside the Strait of Hormuz, ranks among the world's largest bunkering ports, making its weekly stockpile figures a closely watched indicator of regional marine fuel availability.
Total stockpiles dropped to 6.511 million barrels, a five-week low. The slide was driven primarily by a 41% reduction in heavy distillates. The 23% drawdown was the largest since the record 28% plunge recorded in the week ended February 14, 2022, based on FOIZ data compiled by Platts, part of S&P Global Energy, which has tracked the figures since 2017.
Heavy distillates — primarily used as marine bunkering fuel and for power generation — declined to 3.488 million barrels, their lowest level in six weeks.
Light distillates, which include gasoline and naphtha, moved in the opposite direction, climbing 41% to 1.581 million barrels and rebounding from a record low set the prior week.
Middle distillates, such as jet fuel and diesel, slipped 4.2% to 1.442 million barrels, a two-week low.
On the pricing front, Platts assessed the Fujairah-delivered 380 CST high sulfur fuel oil (HSFO) bunker premium over the 380 CST 3.5%S FOB Arab Gulf cargo assessment at $121.41 per metric ton on July 28, down 2.9% day over day.
A UAE-based trader indicated that additional HSFO deliveries are required to rebuild inventories. "We have been monitoring, and it seems all [replenishment cargoes] are floating outside Fujairah," the trader said. According to the same source, traders were not rushing to refill storage tanks due to war-related safety concerns.
Demand for low-sulfur fuel oil remained limited, with suppliers actively seeking to offload barrels and clear near-term positions, another trader noted.
Platts assessed the Fujairah-delivered 0.5%S marine fuel bunker premium over the benchmark FOB Singapore marine fuel 0.5% sulfur cargo value at $84.62 per metric ton on July 28, down 0.4% day over day.
Source: Platts