Fujairah’s fuel oil stocks have averaged 3% higher so far this month than across December, Fujairah Oil Industry Zone (FOIZ) and S&P Global data shows.

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

• Heavy distillate and residual stocks up 210,000 bbls to 8.35 million bbls
• Middle distillate stocks up 294,000 bbls to 2.57 million bbls

Fujairah has imported 285,000 b/d of fuel oil so far this month, an increase of 69,000 b/d from December’s 216,000 b/d, according to cargo tracker Vortexa. Fuel oil exports have risen by a slight 6,000 b/d to 198,000 b/d, shifting the port’s trade balance into net imports.

This month, imports came mainly from Iran (28%), Iraq (17%) and Russia (15%), while exports were primarily sent to Singapore (32%), China (16%) and South Korea (12%).

Fujairah’s middle distillate stocks have also grown by an average of 13% from the previous month.

Despite weak demand, prompt availability remains tight, with lead times for all fuel grades steady at 5–7 days, though some suppliers offer prompt stems at higher costs.

By Tuhin Roy

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