News Today, 13 hours ago

Fujairah’s fuel oil stocks rise coming into July

Brazil
Egypt
Georgia
Korea, Rep. of
Oman
Russia
Fujairah
HSFO
LSMGO
VLSFO

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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