The ARA’s independently held fuel oil stocks averaged 2% higher in October than across September, according to Insights Global data.

Changes in monthly average ARA stocks from September to October: 

• Fuel oil stocks up 160,000 bbls to 8.22 million bbls
• Gasoil stocks down 1.9 million bbls to 16.87 million bbls

The region imported 257,000 b/d of fuel oil in October, up from 229,000 b/d imported in September, according to data from cargo tracker Vortexa. The ARA imported low-sulphur fuel oil (LSFO) and HSFO in a 48/52 ratio in October, unlike September's 51/49 ratio which was tilted towards LSFO. 

The UK (22% of total) emerged as the region’s biggest fuel oil import source in October. The US (12%) came in second, while Turkey (9%) ranked third. This was followed by Lithuania (8%), France and Poland (7% each).

The ARA hub exported 150,000 b/d of fuel oil in October, a sharp decline from 250,000 b/d of fuel oil exported in September. Fuel oil cargo volumes mostly departed for Spain (27%), Singapore (21%), the US (16%) and Saudi Arabia (14%).  

The ARA hub’s independent gasoil inventories - which include diesel and heating oil - came down by 10% in October, despite higher imports. The region imported 410,000 b/d of gasoil in October, registering a significant increase from 291,000 b/d of gasoil imported in September, according to Vortexa data.

India (28% of total) was the region's topmost import source of gasoil and diesel in October. Cargoes also arrived from the US (17%), Qatar (12%), Oman (10%) and the UK (7%).

By Manjula Nair

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