ARA fuel oil stocks climb 17%
The ARA's independently held fuel oil stocks have averaged 17% higher in September so far, compared to August's monthly average, according to Insights Global data.
Changes in monthly average ARA stocks from August to September (so far):
- Fuel oil stocks up around 776,000 bbls to 5.40 million bbls
- Gasoil stocks up around 249,000 bbls to 12.32 million bbls
Fuel oil stocks have increased by around 49% from May, when they hit their lowest level in more than a decade. However, inventories remain 16% below February levels, before the conflict broke out in the Middle East.
The ARA hub has imported around 256,000 b/d of fuel oil in September so far, down from around 342,000 b/d in August, according to Vortexa cargo flows data.
Most shipments came from Mexico (32%), Colombia (28%) and the US (14%).
Meanwhile, the region has exported around 254,000 b/d of fuel oil thus far this month, up from around 144,000 b/d last month, mainly for unloading in France (24%), Canada (18%) and the US (15%).
The region's independent gasoil inventories - which include diesel and heating oil - have gained 2% in September so far, compared to August, according to the Insights Global data.
The region has imported around 157,000 b/d of gasoil in September so far, inching up from an average of around 155,000 b/d imported in August, according to Vortexa data. A majority of shipments arrived from the US (41%), the UK (17%) and Denmark (14%).
Bunker fuel availability remains tight in ARA, with buyers recommended lead times of 5-7 days for all HSFO, VLSFO and LSMGO deliveries, a trader told ENGINE.
By Nachiket Tekawade
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