Fujairah’s residual fuel oil inventories have averaged 19% lower in the first week of this month compared to December, according to the latest data from the Fujairah Oil Industry Zone (FOIZ) and S&P Global.

Changes in monthly average Fujairah stocks from December to January (so far):

• Heavy distillate and residual stocks down 2.12 million bbls to 8.90 million bbls
• Middle distillate stocks down 167,000 bbls to 2.40 million bbls

Fujairah’s heavy distillate and residual fuel oil inventories have slipped below 9 million bbls, marking their lowest level since October.

So far this month, the Middle Eastern bunker hub has imported 209,000 b/d of fuel oil, marginally higher than the 204,000 b/d in December, according to cargo tracker Vortexa. Of these inflows, Nigeria (50%) and Iraq (47%) accounted for the bulk, while Iran (3%) supplied the remainder.

At the same time, Fujairah’s fuel oil exports fell by a sharp 171,000 b/d to 76,000 b/d, with Singapore (52%) receiving the majority of the volumes.

Middle distillate inventories in Fujairah have also declined, averaging 7% lower than last month.

Against this backdrop, prompt bunker supply in Fujairah remains tight across all grades, with suppliers advising lead times of 5–7 days.

By Tuhin Roy

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