Fujairah’s fuel oil stocks surged by 16% in October

Fujairah’s residual fuel oil inventories averaged 16% higher in October than in September, according to the latest data from the Fujairah Oil Industry Zone (FOIZ) and S&P Global.

Changes in monthly average Fujairah stocks from September to October:

• Heavy distillate and residual stocks up 990,000 bbls to 7.15 million bbls
• Middle distillate stocks up 1.25 million bbls to 3.08 million bbls

Fujairah’s heavy distillate and residual fuel oil stocks climbed back above 7 million bbls in October, recovering from multi-year lows recorded in September.

The port’s middle distillate inventories also saw a sharp rise during the month, averaging 68% higher than in September.

Prompt supply across all fuel grades in Fujairah remains tight, as several suppliers continue to struggle with low stock levels and loading delays, even amid subdued demand. Lead times of up to seven days are currently recommended.

By Tuhin Roy

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