Fujairah’s fuel oil stocks drawn 27% in May so far

Fujairah’s residual fuel oil inventories have averaged 27% lower so far this month compared to April, according to the latest data from Fujairah Oil Industry Zone (FOIZ) and S&P Global.

Changes in monthly average Fujairah stocks from April to May (thus far):

• Heavy distillate and residual stocks down 1.03 million bbls to 2.83 million bbls
• Middle distillate stocks down 87,000 bbls to 1.13 million bbls

Heavy distillate and residual fuel oil inventories in Fujairah have fallen below 3 million bbls, marking multi-year lows.

Middle distillate inventories in Fujairah have also declined, averaging 7% lower than last month’s levels.

Prompt bunker availability in Fujairah is currently very tight, with supply across all grades subject to enquiry, a source said.

By Shilpa Sharma

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