The ARA’s independently held fuel oil stocks have declined by 5% in June so far, according to Insights Global data.

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

• Fuel oil stocks down 396,000 bbls to 6.77 million bbls
• Gasoil stocks down 800,000 bbls to 15.05 million bbls

At 6.77 million bbls, the region’s fuel oil stocks have been drawn to average lower so far in June.

The region has imported 149,000 b/d of fuel oil this month, a slight decline compared to 176,000 b/d across May, according to data from cargo tracker Vortexa. 

Poland has been the ARA's topmost import source, making up about 35% of the total share. Other import sources include Germany (34%), the UK (25%) and Spain (6%).

The ARA hub has exported 119,000 b/d of fuel oil, a sharp decrease from the 211,000 b/d of fuel oil exported across May. Fuel oil cargo volumes have mainly departed for Malta (66%) and Norway (34%).

The region’s independent gasoil inventories - which include diesel and heating oil – have dipped by 5% compared to May's average. The ARA hub has imported 70,000 b/d in May, recording a steep decrease from May’s 315,000 b/d, Vortexa data noted.

Finland has been the region's top import source for gasoil and diesel at 41%. Cargo volumes have also arrived from Sweden (14%).

The ARA hub continues to see tight prompt bunker availability of all conventional fuel grades, with lead times of 7-8 days advised.

By Samantha Shaji

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