Fujairah’s fuel oil stocks slump 29% this month
Residual fuel oil inventories in Fujairah have averaged 29% lower so far in April compared to March, based on the latest data from Fujairah Oil Industry Zone and S&P Global.
Changes in monthly average Fujairah stocks from March to April (so far):
- Heavy distillate and residual stocks down 1.68 million bbls to 4.13 million bbls
- Middle distillate stocks down 810,000 bbls to 1.21 million bbls
Heavy distillate and residual fuel oil inventories in Fujairah have fallen below 5 million bbls, marking multi-year lows.
The Middle Eastern bunker hub has not recorded any fuel oil imports so far this month, compared with around 14,000 b/d in March, according to cargo tracking data from Vortexa.
Meanwhile, fuel oil exports from Fujairah have edged up by 11,000 b/d to 85,000 b/d, pushing the port into a net export position. India (34%) and Oman (31%) accounted for the largest export shares, followed by Singapore (23%).
Middle distillate inventories in Fujairah have also declined, averaging 40% lower than last month’s levels.
“The bunkering situation in the Middle East is more stable now, but still not fully consistent,” a source said.
Bunkering operations at Fujairah continue without disruption, with terminals and anchorages operating normally. “Avails [are] ok as of now, all offers are subject to firm inquiry,” another source noted.
Despite steady operations, some suppliers are loading barges in line with actual demand rather than at full capacity, pointing to subdued bunker demand at the port.
By Tuhin Roy
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