ARA fuel oil stocks drawn to 10-year lows

The ARA’s independently held fuel oil stocks decreased by 15% in April, according to Insights Global data.

Changes in monthly average ARA stocks from March to April:

• Fuel oil stocks down 790,000 bbls to 4.37 million bbls
• Gasoil stocks down 1.60 million bbls to 14.53 million bbls

At 4.37 million bbls, the region’s fuel oil stocks are at their lowest in a decade.

The region’s independent gasoil inventories - which include diesel and heating oil – averaged 10% lower in April than in March. They fell to an eight-month low.

Bunker availability is stable in the ARA hub, a trader said. A notice period of 4-6 days is recommended for stems to get competitive offers from a wide selection of suppliers, the trader added.

By Samantha Shaji

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