ARA fuel oil stocks down 4% in December so far
The ARA’s independently held fuel oil stocks have slipped 4% in December till date, according to Insights Global data.
Changes in monthly average ARA stocks from November to December (so far):
- Fuel oil stocks down 280,000 bbls to 6.46 million bbls
- Gasoil stocks down 1.6 million bbls to 14.72 million bbls
The region has imported 110,000 b/d of fuel oil in December till now, down from November’s 141,000 b/d, according to cargo tracker Vortexa.
A majority of those shipments have arrived from France (49%) and Poland (24%).
Meanwhile, the ARA has exported 136,000 b/d of fuel oil in December so far, a decrease from the 204,000 b/d shipped in November. Around 52% of those cargoes have gone to Malta.
The region’s independent gasoil inventories - which include diesel and heating oil – have slumped 10% in December so far, compared to November, according to the Insights Global data.
The ARA has imported 271,000 b/d of gasoil in December till now, gaining from the 225,000 b/d imported in November, according to Vortexa data. Kuwait has sent 65% of those supplies, while France has sent around 25%.
Bunker supply remains tight for prompt delivery in the ARA hub, with buyers advised to book stems of any fuel grade with a lead time of between 5-7 days to get coverage from more suppliers, a trader told ENGINE.
By Nachiket Tekawade
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