The ARA’s independently held fuel oil stocks have averaged 4% lower in May so far than in April, according to Insights Global data.

Changes in monthly average ARA stocks from April to May:

• Fuel oil stocks down 180,000 bbls to 4.19 million bbls
• Gasoil stocks down 970,000 bbls to 13.56 million bbls

The region’s independent gasoil inventories - which include diesel and heating oil – have averaged 7% lower in May so far than in April. This is the lowest since December 2023.

Bunker fuel availability is stable in the ARA hub, a trader said. Lead times of 4-5 days are recommended for stems to secure competitive offers from a wider range of suppliers, the trader added.

By Nachiket Tekawade

Please get in touch with comments or additional info to news@engine.online