Fuel oil shipments averaged 189,000 b/d in June, up from 151,000 b/d in May, with July so far at 334,000 b/d, the bulk of it destined for Singapore. So far in July, the total for China is about 76,000 b/d, already the most for any month total since December 2020. Singapore was the top destination at 113,000 b/d and China was next at 51,000 b/d, the data showed. Oil products exports except for fuel oil from Fujairah averaged an estimated 508,000 b/d for June, down from 554,000 b/d in May, according to S&P Global Commodities at Sea data. Middle distillates such as diesel and jet fuel also declined 10% to 3.217 million barrels, a two-month low, according to the data compiled by S&P Global since 2017. Heavy distillates used as fuel oil for power generation and shipping dropped 10% over the week to 9.354 million barrels, the lowest since Feb. The increase left light distillates at a five-week high. Light distillates jumped to 7.664 million barrels, with the 23% gain the biggest for any week since early May 2022. Total inventories are little changed since the end of 2022. Total inventories rose 0.2% on the week to 20.235 million barrels as of July 10, after hitting a three-week low a week earlier on July 3, the FOIZ data provided exclusively to S&P Global Commodity Insights showed. It does not store any personal data.Receive daily email alerts, subscriber notes & personalize your experience. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics".
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