Fujairah fuel oil inventories up 5% in October so far
Fujairah's fuel oil stocks have averaged 5% higher in the first week of October than across September, Fujairah Oil Industry Zone (FOIZ) and S&P Global data shows.
Changes in monthly average Fujairah stocks from September to October (so far):
- Heavy distillate and residual stocks up 228,000 bbls to 4.72 million bbls
- Middle distillate stocks down 131,000 bbls to 2.29 million bbls
The October average for fuel oil is the highest monthly average since July.
Fujairah imported 152,000 b/d of fuel oil in October so far, up from 133,000 b/d in September, according to cargo tracker Vortexa. Russia accounted for 53% of the imports, followed by Saudi Arabia (46%).
Fuel oil exports from Fujairah rose to 409,000 b/d from 357,000 b/d in September, according to cargo tracker Vortexa. That makes Fujairah a net exporter, with exports exceeding imports by 257,000 b/d. Singapore took 61% of the exports, followed by China (21%) and Taiwan (16%).
Middle distillate stocks have averaged 5% lower in the first week of October than across September.
Bunker fuel availability in Fujairah remains severely constrained as US-Iran tensions continue to disrupt vessel traffic through the Strait of Hormuz, according to a regional source. Supplies of all major grades are extremely limited amid heightened uncertainty across the region.
By Tuhin Roy
Please get in touch with comments or additional info to news@engine.online
