The ARA’s independently held fuel oil stocks have climbed 2% higher in May so far, according to Insights Global data.

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

• Fuel oil stocks up 134,000 bbls to 7.15 million bbls
• Gasoil stocks down 13,000 bbls to 16.08 million bbls

The region has imported 150,000 b/d of fuel oil in May so far, a step down when compared to April’s 198,000 b/d, according to data from cargo tracker Vortexa. 

Saudi Arabia maintains its position as the region’s topmost import source, claiming about 22% of the total share. Other import sources include the UK (20%), the UAE (17%) and Poland (13%).

The ARA hub exported 202,000 b/d of fuel oil this month so far, a minor decrease from the 212,000 b/d of fuel oil exported in April. Fuel oil cargo volumes have departed for Spain (21%), the US (18%) and Colombia (16%).

The region’s independent gasoil inventories - which include diesel and heating oil – have remained relatively stable. The ARA hub has imported a total of 385,000 b/d in May thus far, recording a steep increase from April’s 202,000 b/d, Vortexa data shows.

At 19%, Saudi Arabia is the region's top import source for gasoil and diesel. Cargo volumes have also arrived from the US (16%) and the UAE (13%).

The ARA hub continues to see tight prompt bunker availability of all fuel grades and lead times of 7-8 days recommended.

By Samantha Shaji

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