Fujairah’s residual fuel inventories have averaged 6% lower so far this month than across September, as per the latest data from the Fujairah Oil Industry Zone (FOIZ) and S&P Global.

Changes in monthly average Fujairah stocks from September to October (so far):

• Heavy distillate and residual stocks down 488,000 bbls to 8.24 million bbls
• Middle distillate stocks down 169,000 bbls to 2.30 million bbls

Fujairah's heavy distillate and residual fuel oil inventories have remained below 9 million bbls for the sixth consecutive week.

According to cargo tracker Vortexa, the Middle Eastern bunker hub has imported 208,000 b/d of fuel oil so far in October, a significant decline from 328,000 b/d in September. More than half of these imports have come from Iraq (60%), followed by Iran (31%) and Kuwait (9%).

During the same period, the port's fuel oil exports have decreased by 56,000 b/d to 234,000 b/d. The majority of fuel oil exports from this bunker hub have been sent to Singapore (25%), Malaysia (14%), and China (13%).

Additionally, the port's middle distillate stocks have decreased, averaging 7% lower than last month.

Availability of all grades in Fujairah remains tight, with lead times of about 5-7 days, although some suppliers can still accommodate prompt requests.

By Tuhin Roy

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