The ARA’s independently held fuel oil stocks have averaged 2% greater in May than in April, according to Insights Global data.

Changes in monthly average ARA stocks from April to May:

• Fuel oil stocks up 158,000 bbls to 7.17 million bbls
• Gasoil stocks down 240,000 bbls to 15.85 million bbls

Averaging 7.17 million bbls in May, the fuel oil stocks have recovered from the 18-month low they hit in April. But they are still 11% shy of their five-year average and 19% below 2024's average.

Consistent with last week, the ARA hub continues to see tight prompt bunker availability of all fuel grades, with lead times of 7-8 days advised.

The region has imported 225,000 b/d of fuel oil in May, a slight increase when compared to April’s 198,000 b/d, according to data from cargo tracker Vortexa. 

Saudi Arabia reigns as the ARA's topmost import source, making up about 20% of the total share. Other import sources include the UK (15%), the UAE (9%) and Turkey (8%).

The ARA hub has exported 205,000 b/d of fuel oil this month, a minor decrease from the 212,000 b/d of fuel oil exported in April. Fuel oil cargo volumes have departed for Spain (21%), Colombia (12%) and Singapore (11%).

The region’s independent gasoil inventories - which include diesel and heating oil – have averaged 1% lower than in April. The ARA hub has imported a total of 311,000 b/d in May, recording a steep increase from April’s 202,000 b/d, Vortexa data shows.

At 22%, India is the region's top import source for gasoil and diesel. Cargo volumes have also arrived from the US (12%) and Kuwait (9%).

By Samantha Shaji

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