Fujairah’s residual fuel inventories have averaged 3% lower so far this month than across October, as per the latest data from the Fujairah Oil Industry Zone (FOIZ) and S&P Global.

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

• Heavy distillate and residual stocks down 219,000 bbls to 8.03 million bbls
• Middle distillate stocks down 278,000 bbls to 1.94 million bbls

Fujairah's heavy distillate and residual fuel oil inventories have fallen below 9 million barrels, reaching multi-year lows.

According to cargo tracker Vortexa, the Middle Eastern bunker hub has imported 376,000 b/d of fuel oil so far this month, a significant rise from 196,000 b/d in October. At the same time, fuel oil exports from the port have increased by 43,000 b/d to 235,000 b/d, resulting in a net import balance for the month.

The majority of fuel oil imports have come from Iran (25%), Kuwait (19%) and Iraq (16%), while exports have been primarily directed to Singapore (44%), Malaysia (16%) and South Korea (11%).

Additionally, the port's middle distillate stocks have declined by 13% compared to October.

Availability in Fujairah remains tight, with lead times for all grades around 5-7 days, consistent with the previous week.

By Tuhin Roy

Please get in touch with comments or additional info to news@engine.online