Market Overview Refined oil products to see stronger demand as vaccine rollout gains momentum Marketview Fujairah Special Features Fuel oil markets in 2020: a year in review
Port of Fujairah: Transparency in the Making
S&P Global Platts & Fujairah The evolution of price assessments
Media Promoting Fujairah storage data
Dave Ernsberger
Global Head Of Pricing and Market Insight Content Management
S&P Global Platts
The trading hub of Fujairah has delivered across all fronts in the past 12 months, serving global and regional energy markets well as a beacon of development and innovation throughout a time of uncertainty, as we all worked through the impact of Covid-19 on the markets we serve. What a year we’ve had, and on behalf of all of us at S&P Global Platts, we hope you and your loved ones have stayed safe and well.
This year will see important pieces of Fujairah’s long-term vision fall into place. At Fujcon, we together celebrate the fifth year of independent flat price assessments from Platts, and the fifth year that we are proudly partnering with Fujairah Oil Industry Zone to share weekly inventory data for light, middle and heavy distillate refined products.
We are excited to be partnering with the port to add new data to this stream. Monthly bunker delivery data will help global markets understand better than ever the flows of fuels into shipping at Fujairah. As a world-leading bunkering port, bunker delivery data from Fujairah will help shipowners (and their suppliers) understand better than ever how to manage their supply needs.
Meanwhile, the launch of the Murban crude oil futures contract brings a fresh emphasis on the value of medium, sweet crude loadings in Fujairah as part of the global crude benchmarking mosaic. With the launch of Murban futures and Platts’ existing FOB Fujairah refined products assessments, the markets will for the first time have product and crude values on a Fujairah basis, allowing for good, side-by-side analysis of the physical crack spreads and refining margins that supply and trading for markets around the world.
The Middle East will become net long in gasoline this year, as it has been in diesel, fuel oil, naphtha and jet fuel, meaning that the economics of FOB markets in Fujairah have never been more relevant for energy consumers in Asia, Europe, Africa and the Americas.
It has been impressive to see Fujairah continuing to grow storage capacity, add refining capabilities and host more trade. In a year that has brought more volatility than any other, Fujairah delivered impressively on its vision to play a pivotal role in global energy markets as the Middle East’s natural clearing center for spot trading, and a central focus point for pricing.
Or our Dubai and Oman Crude price benchmarks or any other part of our Oil, LNG or Shipping services please contact our team at support@platts.com