The ARA’s independently held fuel oil stocks have averaged 3% lower so far this month than across March, according to Insights Global data.

ARA fuel oil and gasoil stocks since January 2013

Changes in monthly average ARA stocks from March to April (so far): 

• Fuel oil stocks down 319,000 bbls to 9.37 million bbls  
• Gasoil stocks up 555,000 bbls to 16.01 million bbls

The region has imported 226,000 b/d of fuel oil so far this month, down from 254,000 b/d in March, according to data from cargo tracker Vortexa.  

The US has replaced Mexico as the ARA’s biggest fuel oil import source this month, accounting for 18% of the region’s total imports. The UK has ranked second, accounting for 15% of the region’s total imports, followed by Mexico (12%), France and Lithuania (11% each). 

The ARA hub has exported 274,000 b/d of fuel oil so far this month, down from 307,000 b/d of fuel oil exported in March. The bulk of fuel oil cargoes have departed for the US (40%), Singapore (14%), Spain (11%), and Saudi Arabia and the UK (6%). 

The ARA hub’s independent gasoil inventories — which include diesel and heating oil — have increased by 4% so far this month.

Gasoil stocks have risen to their highest levels since June last year. The region has imported 394,000 b/d of gasoil this month, up from 373,000 b/d imported in March.

A majority of gasoil and diesel cargoes have arrived from India – accounting for 28% of the ARA’s total imports this month. Imports have also arrived from the US (13%), Kuwait (11%), Saudi Arabia (9%) and Qatar (7%).

By Manjula Nair  

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