ARA fuel oil stocks climb 15% in September so far
The ARA's independently held fuel oil stocks have averaged 15% higher in September so far, compared to August's monthly average, according to Insights Global data.
Changes in monthly average ARA stocks from August to September (so far):
- Fuel oil stocks up around 706,000 bbls to 5.33 million bbls
- Gasoil stocks up around 255,000 bbls to 12.33 million bbls
Fuel oil stocks have increased by around 47% from May, when they hit their lowest level in more than a decade. However, inventories remain 18% below February levels, before the conflict broke out in the Middle East.
The ARA hub has imported around 276,000 b/d of fuel oil in September so far, down from August's monthly average of around 342,000 b/d, according to Vortexa cargo flows data.
Most shipments came from Mexico (23%), Colombia (19%) and Benin (14%).
Meanwhile, the region has exported around 225,000 b/d of fuel oil in September so far, up from around 144,000 b/d in August, mainly for unloading in Singapore (20%), the UK (12%) and Russia (11%).
The region's independent gasoil inventories - which include diesel and heating oil - have gained 2% in September so far, compared to August, according to the Insights Global data.
The region has imported around 141,000 b/d of gasoil in September so far, down from an average of around 155,000 b/d imported in August, according to Vortexa data. A majority of shipments arrived from the US (30%), the UK (18%) and Sweden (12%).
Bunker fuel availability remains tight for prompt supplies, with buyers recommended lead times of 5-7 days to secure deliveries of any fuel grade, a trader told ENGINE.
By Nachiket Tekawade
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