Fujairah fuel oil stocks surge 19% so far in September
Fujairah’s fuel oil stocks have averaged 19% higher in September so far than across August, Fujairah Oil Industry Zone (FOIZ) and S&P Global data shows. Changes in monthly average Fujairah stocks from August to September (so far): • Heavy distillate and residual stocks up 760,000 bbls to 4.69 million bbls • Middle distillate stocks up ...
Fujairah’s fuel oil stocks have shown a significant increase of 19% in September compared to August, according to data from Fujairah Oil Industry Zone (FOIZ) and S&P Global. Heavy and residual fuel oil stocks rose by 760,000 barrels to 4.69 million barrels, while middle distillate stocks increased by 790,000 barrels to 2.33 million barrels. However, these stocks are still lower than July's average of 5.54 million barrels.
Fuel oil imports into Fujairah have more than quadrupled, with an average increase of 96,000 barrels per day from 30,000 barrels per day in August to 126,000 barrels per day so far in September. Russia is the largest supplier, accounting for 48% of the imports, followed by Georgia, Bahrain, and Iran.
Despite the rise in imports, fuel oil exports from the port have decreased by 44,000 barrels per day to 262,000 barrels per day, with Malaysia and Singapore being the biggest destinations, followed by the US and India. With exports outweighing imports, Fujairah remains a net exporter of fuel oil this month.
Middle distillate stocks in Fujairah have averaged 51% higher so far in September compared to August, marking the highest average since February. However, bunker fuel availability remains severely constrained due to ongoing US-Iran tensions, which continue to disrupt shipping through the Strait of Hormuz. Supply of all major fuel grades is described as "super tight," with fuel oil imports remaining low amidst heightened regional uncertainty, according to a Middle East-based source.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.