Fujairah’s fuel oil inventories slump 22% this month

Fujairah’s residual fuel oil inventories have averaged 22% lower so far this month compared to January, according to the latest data from the Fujairah Oil Industry Zone (FOIZ) and S&P Global.

Changes in monthly average Fujairah stocks from January to February (so far):

• Heavy distillate and residual stocks down 2.25 million bbls to 7.96 million bbls
• Middle distillate stocks up 133,000 bbls to 3.09 million bbls

Heavy distillate and residual fuel oil stocks in Fujairah have fallen below 8 million bbls, reaching their lowest point since October.

In contrast, middle distillate inventories at the port have risen, averaging 4% higher than last month.

Lead times for all fuel grades remain stable at 5–7 days, unchanged from last week.

By Tuhin Roy

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