In mid-February 2026, oil product stockpiles at the Port of Fujairah in the UAE rose to 20.547 million barrels, marking a 4.3% increase for the week ended February 16, 2026. This build ended a two-week period of declining stocks and was primarily fueled by a significant surge in light distillates.
The data, published on February 18 by the Fujairah Oil Industry Zone (FOIZ) and compiled by S&P Global Commodity Insights, indicates that light distillates have now reached their highest level at the hub since June 2019.
Inventory Breakdown: February 2026
The most notable shift in this week’s report is that light product inventories have exceeded heavy distillates for the first time since October 2025.
Market Dynamics and Trading Context
Light Distillates Surge: The 24% spike in light distillates reflects a softening in regional demand for gasoline and naphtha, potentially due to seasonal refinery shifts and increased exports from Asian refining hubs.
Heavy Residue Decline: Heavy distillates fell to a three-month low, as bunker demand in the Middle East remains steady despite fluctuating global fuel prices.
Bunker Pricing: On February 16, Platts assessed low-sulfur marine fuel (0.5%) at $471/metric ton, hovering near a four-month high. High-sulfur fuel oil (380 CST) was assessed at $413/metric ton.
