Independently held fuel oil stocks in ARA have jumped by 14% in November so far, according to Insights Global data.

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

• Fuel oil stocks up 800,000 bbls to 6.68 million bbls
• Gasoil stocks down 270,000 bbls to 16.49 million bbls

Fuel oil stocks have significantly ticked up from last month, when the lowest monthly average in this year was recorded.

Meanwhile, the region’s independent gasoil inventories - which include diesel and heating oil – have slipped by 2% in November so far, compared to October, according to the data.

Prompt supply for all fuel types is tight in the ARA hub this week, with buyers advised to book at least a week in advance for a wider selection of suppliers, a trader told ENGINE.

By Nachiket Tekawade

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