ARA fuel oil stocks dropped 20% in March

The ARA’s independently held fuel oil stocks averaged 20% lower in March than in February, according to Insights Global data.

Changes in monthly average ARA stocks from February to March:

• Fuel oil stocks down 1.31 million bbls to 5.16 million bbls
• Gasoil stocks down 140,000 bbls to 16.13 million bbls

The region imported around 207,000 b/d of fuel oil in March, up from 192,000 b/d imported in February, according to cargo tracker Vortexa.

Most supplies arrived from Denmark (14%), Poland (12%) and Estonia (11%).

The ARA exported 184,000 b/d of fuel oil last month, down from the 204,000 b/d shipped in February. Cargo volumes left for Singapore (37%), the US and the Bahamas (11% each).

The region’s independent gasoil inventories - which include diesel and heating oil – dipped 1% lower in March, compared to February.

The ARA imported 291,000 b/d of gasoil in March, down from the 304,000 b/d in February, according to Vortexa data. Around 32% of import volumes arrived from Kuwait, followed by the US (20%).

Fuel availability is normal in the ARA bunkering hub, but buyers are advised to enquire about stems around five days in advance to get good coverage from suppliers, a trader told ENGINE.

By Nachiket Tekawade

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