Fujairah’s fuel oil stocks slumped 34% this month

Residual fuel oil inventories in Fujairah have averaged 34% lower 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:

• Heavy distillate and residual stocks down 1.95 million bbls to 3.86 million bbls
• Middle distillate stocks down 801,000 bbls to 1.22 million bbls

Heavy distillate and residual fuel oil inventories in Fujairah have fallen below 4 million bbls, marking multi-year lows.

Middle distillate inventories in Fujairah have also declined, averaging 40% lower than last month’s levels.

Bunkering operations at Fujairah continue without disruption, with terminals and anchorages operating normally. However, bunker supply is tight as of now with all offers subject to firm inquiry, a trader said. While some suppliers still hold stocks, others are running close to empty “as no imports coming in at the moment,” the trader added.

By Shilpa Sharma

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