Fujairah’s fuel oil stocks have averaged 2% higher so far this month than across November, Fujairah Oil Industry Zone (FOIZ) and S&P Global data shows.

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

• Heavy distillate and residual stocks up 176,000 bbls to 8.35 million bbls
• Middle distillate stocks up 326,000 bbls to 2.38 million bbls

Fujairah has imported 236,000 b/d of fuel oil so far this month, a significant drop of 110,000 b/d compared to 346,000 b/d imported in November, according to data from cargo tracker Vortexa.

Fuel oil exports from the port have also decreased sharply, falling by 181,000 b/d to 71,000 b/d this month.

Out of the port's total fuel oil imports, 22% originated from Iran, followed by Russia (21%) and Iraq (20%). On the export side, most shipments have gone to China (35%), Malaysia (26%), and Singapore (15%).

Meanwhile, Fujairah's middle distillate stocks have grown by an average of 16% compared to last month.

Availability remains tight in the port, with lead times for all grades steady at 5-7 days, the same as last week.

By Tuhin Roy

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