The latest data from the Fujairah Oil Industrial Zone in the United Arab Emirates shows that as of the week ending July 1st, the total inventory of finished oil at the Fujairah Port in the UAE was 16.54 million barrels, a decrease of 1.272 million barrels from the previous week. The inventory of light distillate oil decreased by 821,000 barrels to 5.14 million barrels, the inventory of medium distillate oil increased by 79,000 barrels to 2.659 million barrels, and the inventory of heavy residual fuel oil decreased by 530,000 barrels to 8.741 million barrels.

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