Fujairah Stocks Surge 9% as Gasoil Slips — Policy Volatility Lifts RINs and POGO
Distillate fundamentals weakened sharply mid-week as ICE gasoil fell again to $636/t, and the Fujairah Energy Data Committee reported a 9% surge in total oil-product stocks to 17.81 million bbl, led by a substantial build in middle distillates. The increase reflects continued gasoil weakness and subdued regional demand, with storage hubs now absorbing excess cargoes as cracks soften. The front-month heat crack remains near $32.9/bbl—well below summer highs—highlighting some margin compression even as jet and gasoline spreads stay firm.
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