ARA fuel oil stocks climbed 18% in September
The ARA's independently held fuel oil stocks averaged 18% higher in September, compared to August's monthly average, according to Insights Global data.
Changes in monthly average ARA stocks from August to September:
- Fuel oil stocks up 851,000 bbls to 5.47 million bbls
- Gasoil stocks up 513,000 bbls to 12.59 million bbls
Fuel oil stocks increased by 51% from May, when they hit their lowest level in more than a decade. However, inventories were 15% below February levels, before Israel and the US went to war with Iran.
The ARA hub imported 266,000 b/d of fuel oil in September, down from August's 342,000 b/d, according to Vortexa cargo flows data.
Most cargo volumes came from Mexico (19%), Colombia (13%) and Benin (12%).
Meanwhile, the region exported 177,000 b/d of fuel oil in September, up from 144,000 b/d in August, mainly for unloading in Singapore (21%), Spain (19%) and Saudi Arabia (15%).
The region's independent gasoil inventories - which include diesel and heating oil - gained 4% in September, compared to August, according to the Insights Global data.
The region imported 197,000 b/d of gasoil in September, up from 155,000 b/d in August, according to Vortexa data. Most of the volumes arrived from the US (29%), the UK (20%) and Saint Lucia (12%).
Prompt bunker fuel availability is tight in ARA ports, a trader said. Buyers are advised lead times of 5-7 days to get good coverage from suppliers. Suppliers have been facing some loading issues with fuel oil grades.
By Samantha Shaji
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