ARA fuel oil inventories decline 5% in October

Independently held fuel oil stocks in ARA have fallen by 5% in October so far, according to Insights Global data.

Changes in monthly average ARA stocks from September to October (so far):

• Fuel oil stocks down 310,000 bbls to 5.91 million bbls
• Gasoil stocks up 420,000 bbls to 16.67 million bbls

The fuel oil stocks are now at their lowest monthly average of the year.

Meanwhile, the region’s independent gasoil inventories - which include diesel and heating oil – have gained by 3% in October so far, from September, according to the data.

Availability of all fuel types is tight for immediate deliveries in the ARA hub, with buyers advised to book at least a week ahead for a wider selection of suppliers, a trader told ENGINE.

By Nachiket Tekawade

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