Fujairah’s residual fuel oil inventories have averaged 8% lower so far this month than across May, Fujairah Oil Industry Zone (FOIZ) and S&P Global data shows.

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

• Heavy distillate and residual stocks down 773,000 bbls to 8.75 million bbls
• Middle distillate stocks down 502,000 bbls to 787,000 bbls

Fujairah's heavy distillate and residual fuel oil inventories have dropped below 9 million bbls — the lowest level recorded since January.

Fuel oil imports into the port have averaged 230,000 b/d so far this month, up by 37,000 b/d from May’s 193,000 b/d, according to cargo tracker Vortexa. In contrast, exports have declined sharply by 110,000 b/d to 169,000 b/d, shifting Fujairah’s trade balance into net imports.

Russia has been the largest source of fuel oil imports this month (24%), followed by India (22%) and Iraq (21%). On the export front, over half of Fujairah’s fuel oil shipments have gone to Malaysia (59%), with Saudi Arabia (6%) and Bahrain (3%) following.

Middle distillate stocks at the port have also declined, averaging 39% lower than in May.

Prompt bunker availability remains tight in Fujairah, with lead times for all fuel grades steady at 5–7 days.

By Tuhin Roy

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