Fujairah’s fuel oil inventories fell 7% in January

Fujairah’s fuel oil inventories averaged 7% lower in January than in December, Fujairah Oil Industry Zone (FOIZ) and S&P Global data show.

Changes in monthly average Fujairah stocks from December to January:

• Heavy distillate and residual stocks down 799,000 bbls to 10.22 million bbls
• Middle distillate stocks up 392,000 bbls to 2.96 million bbls

Fuel oil inventories at the UAE port of Fujairah dropped below 11 million bbls, their lowest level since October.

Fuel oil imports averaged 305,000 b/d in January, up sharply from 204,000 b/d in December, data from cargo tracker Vortexa showed. Over the same period, fuel oil exports from the Middle East’s main bunker hub fell by 131,000 b/d to 116,000 b/d.

In January, the bulk of Fujairah’s fuel oil imports originated from Iran (31%), followed by Nigeria (16%) and Iraq (15%). On the export side, most volumes were shipped to Singapore (48%) and South Korea (33%), while Saudi Arabia accounted for 7%.

Meanwhile, middle distillate stocks at Fujairah increased, averaging 15% above December levels.

Prompt bunker supply in the port remains tight across all fuel grades, with suppliers advising lead times of 5–7 days.

By Tuhin Roy

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