Fujairah\u2019s fuel oil inventories plunge 24% amid higher exports<\/p>\n
Fujairah\u2019s residual fuel oil inventories have averaged 24% lower so far in April compared to March, according to the latest data from Fujairah Oil Industry Zone (FOIZ) and S&P Global.<\/p>\n
Changes in monthly average Fujairah stocks from March to April (so far):<\/p>\n
Heavy distillate and residual stocks down 1.40 million bbls to 4.41 million bbls<\/p>\n
Middle distillate stocks down 777,000 bbls to 1.24 million bbls<\/p>\n
Heavy distillate and residual fuel oil inventories in Fujairah have dropped below 5 million bbls, reaching multi-year lows.<\/p>\n
Fuel oil inflows into the Middle Eastern bunker hub have remained subdued this month, likely reflecting the ongoing Middle East crisis. Imports have averaged 27,000 b\/d so far, up slightly from 14,000 b\/d in March, according to cargo tracking data from Vortexa. All incoming volumes, for both months, have originated from Iran.<\/p>\n
The composition of these imports has remained unchanged, with the HSFO\/LSFO ratio steady at 100\/0 across both months.<\/p>\n
At the same time, fuel oil exports from Fujairah have increased by 89,000 b\/d to 163,000 b\/d, shifting the port into a net export position. Singapore (35%) accounted for the largest share of exports, followed by India (25%) and Oman (23%).<\/p>\n
Middle distillate inventories in Fujairah have also declined, averaging 39% lower than last month\u2019s levels.<\/p>\n
Bunkering operations at the Port of Fujairah are continuing without disruption despite regional tensions, although supply remains tight. Most terminals and anchorages are still operational.<\/p>\n
\u201cAvails [are] ok as off now, all offers are subject to firm inquiry,\u201d a trader said.<\/p>\n
Bunkering activity is ongoing, but some suppliers are loading barges in line with actual demand rather than at full capacity. Demand in Fujairah remains subdued, the trader added.<\/p>\n
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