ARA fuel oil stocks drop 5% in September

ARA’s independently held fuel oil stocks fell 5% in September than across August, according to Insights Global data.

Changes in monthly average ARA stocks from August to September:

• Fuel oil stocks down 300,000 bbls to 6.22 million bbls
• Gasoil stocks up 2.04 million bbls to 16.25 million bbls

Fuel oil inventories fell to their lowest monthly average of the year.

The region’s independent gasoil inventories - which include diesel and heating oil –jumped 14% in September, compared to August, according to the Insights Global data.

ARA’s fuel supplies have been proceeding normally this week, with buyers advised to enquire about stems 5-7 days in advance for HSFO and VLSFO, and 4-5 days for LSMGO, to get competitive offers from a wide selection of suppliers, a trader said.

By Nachiket Tekawade

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