ARA’s Independently held fuel oil stocks have declined by 4% in October so far, according to Insights Global data.

Changes in monthly average ARA stocks from September to October (so far):

• Fuel oil stocks down 260,000 bbls to 5.96 million bbls
• Gasoil stocks up 640,000 bbls to 16.90 million bbls

Fuel oil inventories in the ARA bunkering hub are now at their lowest monthly average of the year.

Meanwhile, the region’s independent gasoil inventories - which include diesel and heating oil – have gained by 4% in October so far, from September, according to the Insights Global data.

LSMGO availability is expected to remain tight in the bunkering hub for the remainder of the month as suppliers are facing difficulty securing cargoes, a source told ENGINE.

Buyers are advised to enquire about LSMGO with around a week of lead time to get offers from a wider selection of suppliers, while VLSFO and HSFO supplies still need around 5-7 days of notice, a trader said.

By Nachiket Tekawade

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