Fujairah’s residual fuel inventories have averaged 10% lower so far in August than across July, Fujairah Oil Industry Zone (FOIZ) and S&P Global data show.

Changes in monthly average Fujairah stocks from July to August (so far):

• Heavy distillate and residual stocks down 995,000 bbls to 8.64 million bbls
• Middle distillate stocks down 531,000 bbls to 2.20 million bbls

Fujairah's heavy distillate and residual fuel oil inventories have stayed below 9 million barrels for the third straight week, reaching a multi-year low.

The port's middle distillate stocks have also dropped, averaging 19% lower than the previous month.

At the UAE port of Fujairah, prompt availability of all fuel grades is limited. Most suppliers need a lead time of 5-7 days, though a few can still cater to prompt orders.

By Tuhin Roy

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