Fujairah's fuel oil inventories increased by 14% in September

Fujairah's fuel oil inventories averaged 14% higher in September than in August, Fujairah Oil Industry Zone (FOIZ) and S&P Global data show.

Changes in monthly average Fujairah stocks from August to September:

• Heavy distillate and residual stocks up 565,000 bbls to 4.50 million bbls
• Middle distillate stocks up 879,000 bbls to 2.42 million bbls

Fuel oil inventories at the UAE's Port of Fujairah averaged their highest since July, when they stood at 5.54 million bbls, after August's 3.93 million bbls.

Fuel oil imports into Fujairah rose to 133,000 b/d in September from 30,000 b/d in August, according to cargo tracker Vortexa. Russia accounted for 34% of the imports, followed by Nigeria (21%), Bahrain (15%) and Saudi Arabia (12%).

Exports rose by 51,000 b/d to 357,000 b/d, according to cargo tracker Vortexa. Singapore accounted for 34% of the exports, followed by Pakistan (16%) and Malaysia (11%). Exports remained above imports, keeping Fujairah a net exporter of fuel oil.

Meanwhile, Fujairah's middle distillate inventories averaged 57% above August levels, the highest monthly average since February.

Bunker supply in Fujairah remains severely restricted as US-Iran tensions continue to disrupt vessel traffic through the Strait of Hormuz, according to a regional source. Availability of all major grades is extremely limited, while heightened uncertainty across the region continues to weigh on fuel oil arrivals.

By Tuhin Roy

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