Fujairah’s fuel oil inventories rise 5%

Fujairah’s fuel oil stocks have averaged 5% higher so far this month than across November, Fujairah Oil Industry Zone (FOIZ) and S&P Global data shows.

Changes in monthly average Fujairah stocks from November to December (so far):

• Heavy distillate and residual stocks up 576,000 bbls to 11.80 million bbls
• Middle distillate stocks down 280,000 bbls to 2.92 million bbls

Fujairah’s heavy distillate and residual fuel oil inventories have risen above 11 million bbls so far this month, reaching their highest level this year.

Meanwhile, middle distillate stocks in Fujairah have declined, averaging 9% lower than last month.

Prompt bunker supply remains tight across all grades in Fujairah, with most suppliers recommending lead times of 5-7 days. However, urgent stems can be arranged at a premium, a source said.

By Shilpa Sharma

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