Fujairah’s fuel oil inventories averaged 20% higher in February than in January, Fujairah Oil Industry Zone (FOIZ) and S&P Global data show.

Changes in monthly average Fujairah stocks from January to February:

• Heavy distillate and residual stocks up 1.69 million bbls to 9.99 million bbls
• Middle distillate stocks down 274,000 bbls to 2.15 million bbls

Fujairah’s heavy distillate and residual fuel oil inventories increased for the third consecutive month, reaching around 10 million bbls - the highest monthly average since April last year.

Fujairah imported approximately 326,000 b/d of fuel oil in February, up significantly from 241,000 b/d in January, according to cargo tracker Vortexa. During the same period, Fujairah’s fuel oil exports rose by 26,000 b/d to reach 230,000 b/d.

Most of Fujairah’s fuel oil imports in February came from Russia (28%), Iran (25%) and Iraq (20%). Singapore was the top destination for its fuel oil exports (31%), followed by Pakistan (18%) and China (12%).

Meanwhile, the port’s middle distillate stocks declined by an average of 11% in February.

In Fujairah, prompt bunker fuel availability remains tight despite weak demand, with lead times for all grades unchanged from last week at 5–7 days.

By Tuhin Roy

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