The ARA’s independently held fuel oil stocks have declined by 9% in July so far, according to Insights Global data.

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

• Fuel oil stocks down 620,000 bbls to 6.05 million bbls
• Gasoil stocks down 468,000 bbls to 14.42 million bbls

At 6.05 million bbls, the region’s fuel oil stocks are at their lowest average since January this year.

In the ARA bunker market, HSFO and VLSFO lead times have come down slightly from last week to 6-8 days now, while LSMGO requires 5-6 days ahead, a trader told ENGINE, according to a trader.

The region imported 110,000 b/d of fuel oil in July thus far, a decline compared to June’s 133,000 b/d, according to data from cargo tracker Vortexa. 

France is accounted for half of the region’s imports. Other import sources include Finland (26%) and the UK (21%).

Fuel oil cargoes departed for Sweden (12%) and Spain (7%).

The region’s independent gasoil inventories - which include diesel and heating oil – have fallen by 3% in July, compared to June. The ARA hub has imported a total of 101,000 b/d in July, a decrease from June’s 164,000 b/d, Vortexa data noted.

Germany is the top import source for gasoil and diesel oil, at 79%. Cargo volumes have also arrived from France (27%).

By Samantha Shaji

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