Fujairah’s fuel oil inventories averaged 4% lower in June than in May, Fujairah Oil Industry Zone (FOIZ) and S&P Global data show.

Changes in monthly average Fujairah stocks from May to June:

• Heavy distillate and residual stocks down 402,000 bbls to 9.12 million bbls
• Middle distillate stocks up 573,000 bbls to 1.86 million bbls

Fuel oil stocks at the port of Fujairah rose above 9 million barrels in June.

Fuel oil imports increased to about 234,000 b/d, up from 193,000 b/d in May, according to cargo tracker Vortexa. In contrast, fuel oil exports from the Middle Eastern bunker hub dropped sharply by 149,000 b/d to 130,000 b/d in June.

Most of Fujairah’s fuel oil imports in June came from Iraq (18%), followed by India (17%) and Russia (13%). On the export side, the largest share was sent to Malaysia (23%), with Singapore (22%) and Saudi Arabia (16%) as other key destinations.

Meanwhile, middle distillate stocks at the port surged in June, averaging 44% higher than in May.

VLSFO availability has improved, with lead times shortening to around six days from nine days last week. LSMGO and HSFO still require lead times of approximately 5–6 days, remaining largely steady week-on-week.

By Tuhin Roy

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