ARA fuel oil stocks decline by 17% in April<\/p>\n
The ARA\u2019s independently held fuel oil stocks have fallen by 17% in April so far, according to Insights Global data.<\/p>\n
Changes in monthly average ARA stocks from March to April (so far):<\/p>\n
Fuel oil stocks down 850,000 bbls to 4.31 million bbls<\/p>\n
Gasoil stocks down 970,000 bbls to 15.16 million bbls<\/p>\n
At 4.31 million barrels, the region\u2019s fuel oil stocks are below their five-year average.<\/p>\n
The ARA hub has imported 241,000 b\/d of fuel oil in April thus far, up from March\u2019s 207,000 b\/d, according to data from cargo tracker Vortexa.<\/p>\n
Most supplies have arrived from Venezuela (18%), Sweden (17%) and Mexico (12%).<\/p>\n
The region has exported 175,000 b\/d of fuel oil so far this month, down from 184,000 b\/d in March.<\/p>\n
Most fuel oil cargoes have departed for Singapore (37%), followed by the US and the Bahamas (11% each).<\/p>\n
The region\u2019s independent gasoil inventories \u2013 which include diesel and heating oil \u2013 have decreased by 6% this month, compared to March. The ARA hub has imported 179,000 b\/d of gasoil in April so far, a significant decrease from 291,000 b\/d in March, Vortexa data showed.<\/p>\n
Saudi Arabia has emerged as the top source of gasoil and diesel imports, accounting for 24% of total imports. Cargoes have also arrived from Qatar (18%) and the US (17%).<\/p>\n
Bunker supplies are stable in the ARA hub, according to a trader. Buyers are advised to book stems at least 4-5 days in advance to get competitive offers from a broad selection of suppliers, the trader added.<\/p>\n
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