ARA fuel oil stocks decline by 14% in April<\/p>\n
The ARA\u2019s independently held fuel oil stocks have dropped by 14% 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 710,000 bbls to 4.44 million bbls<\/p>\n
Gasoil stocks down\u00a01.37 million bbls to 14.76 million bbls<\/p>\n
The ARA hub has imported 276,000 b\/d of fuel oil in April thus far, rising from March\u2019s 207,000 b\/d, according to data from cargo tracker Vortexa.<\/p>\n
Most cargoes arrived from Denmark (16%), Mexico (12%) and Venezuela (11%).<\/p>\n
The region has exported 172,000 b\/d of fuel oil so far this month, down from 184,000 b\/d in March.<\/p>\n
Majority of the fuel oil cargoes have been shipped to the U.S. (27%) and Russia (24%), while South Africa has also taken some cargoes (14%).<\/p>\n
The region\u2019s independent gasoil inventories \u2013 which include diesel and heating oil \u2013 have decreased by 8% this month, compared to March. The ARA hub has imported 172,000 b\/d of gasoil in April so far, down considerably from 291,000 b\/d in March, Vortexa data showed.<\/p>\n
Kuwait (20%), Saudi Arabia and the U.S. (17%), and Qatar (13%) were the top suppliers this month.<\/p>\n
The ARA has traditionally received the bulk of its gasoil cargoes from Middle Eastern countries and a full impact of the closure of the Strait of Hormuz is being slowly seen as gasoil stocks drop fast in April. Gasoil inventories dropped just 1% in March.<\/p>\n
Bunker availability is stable in the ARA hub so far, 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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