Fujairah’s residual fuel oil inventories have averaged 13% lower in the first two weeks of this month than across May, Fujairah Oil Industry Zone (FOIZ) and S&P Global data shows.

Changes in monthly average Fujairah stocks from April to May (so far):

• Heavy distillate and residual stocks down 1.51 million bbls to 9.90 million bbls
• Middle distillate stocks down 720,000 bbls to 1.75 million bbls

Fujairah’s heavy distillate and residual fuel oil inventories have fallen below 10 million bbls, reaching their lowest level since February.

According to cargo tracker Vortexa, the Middle Eastern bunker hub has imported 244,000 b/d of fuel oil so far this month, a slight increase from 233,000 b/d in April. Most of these imports have originated from Kuwait, Russia (24% each) and Iraq (22%).

Meanwhile, fuel oil exports from Fujairah have declined by 42,000 b/d to 235,000 b/d, with the majority heading to Malaysia (42%), Saudi Arabia (26%) and Singapore (15%).

The port’s middle distillate stocks have also dropped, averaging 29% lower than in April.

Prompt bunker availability remains tight, with lead times for all fuel grades steady at 5–7 days, unchanged from last week.

By Tuhin Roy

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