Fujairah’s fuel oil stocks have averaged 12% higher so far this month than across June, Fujairah Oil Industry Zone (FOIZ) and S&P Global data show.

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

• Heavy distillate and residual stocks up 1.13 million bbls to 10.26 million bbls
• Middle distillate stocks up 445,000 bbls to 2.31 million bbls

Fujairah has imported 334,000 b/d of fuel oil so far in July, a significant rise of 100,000 b/d compared to June, according to cargo tracker Vortexa. Fuel oil exports have also increased, reaching 183,000 b/d—up by 53,000 b/d.

Most imports have come from Georgia, Brazil (21%), and Russia (19%). On the export front, South Korea and Egypt have been the top destinations, accounting for 25% and 22% of exports, respectively, followed by Oman (4%).

The port’s middle distillate stocks have also risen by 24% this month.

VLSFO lead times in Fujairah are currently around 5–7 days, slightly improved from last week's estimate of 6 days. Lead times for LSMGO and HSFO remain stable at 5–7 days, with little change from the previous week.

By Tuhin Roy

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