Fujairah's fuel oil stocks have averaged 8% higher so far in September than across August, Fujairah Oil Industry Zone (FOIZ) and S&P Global data shows.

Changes in monthly average Fujairah stocks from August to September (so far):

• Heavy distillate and residual stocks up 305,000 bbls to 4.24 million bbls
• Middle distillate stocks up 655,000 bbls to 2.20 million bbls

Fuel oil inventories remain well below July's average of 5.54 million bbls, despite the pickup in September.

Fujairah's fuel oil imports have risen to 118,000 b/d so far in September, up from 30,000 b/d in August, according to cargo tracker Vortexa. Russia has been the source of 71% of the imports, followed by Iran (19%) and Iraq (10%).

Fuel oil exports have climbed to 567,000 b/d so far in September from 306,000 b/d in August, according to cargo tracker Vortexa. China took the largest share of exports at 38%, followed by Malaysia (23%), India (18%) and Singapore (15%).

China has overtaken Singapore as the top destination for Fujairah fuel oil exports; Singapore led in August with 48% of the total, ahead of China's 26%.

Middle distillate stocks have averaged 2.20 million bbls so far in September, up from 1.54 million bbls in August and 1.38 million bbls in July.

Fujairah availability remains tight across all grades. Tensions between the US and Iran continue to disrupt shipping through the Strait of Hormuz.

By Tuhin Roy

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