ARA fuel oil stocks climb 15% in September so far
The ARA’s independently held fuel oil stocks have averaged 15% higher in September so far, compared to August’s monthly average, according to Insights Global data. Changes in monthly average ARA stocks from August to September (so far): Fuel oil stocks up around 706,000 bbls to 5.33 million bbls Gasoil stocks up around 255,000 bbls to ...
ARA fuel oil stocks have increased by 15% in September so far, compared to August's average, according to Insights Global data. Fuel oil stocks rose to 5.33 million bbls, while gasoil stocks increased to 12.33 million bbls. Fuel oil stocks have risen by 47% from their lowest level in over a decade in May. However, inventories are still 18% below February levels before the Middle East conflict.
In September, the ARA hub imported around 276,000 b/d of fuel oil, down from August's average of 342,000 b/d. The main importers were Mexico, Colombia, and Benin. Meanwhile, the region exported about 225,000 b/d of fuel oil, up from August's average of 144,000 b/d, mainly for unloading in Singapore, the UK, and Russia. Gasoil inventories have risen by 2% in September compared to August, with most imports coming from the US, the UK, and Sweden.
Bunker fuel availability remains tight, requiring buyers to have lead times of 5-7 days for fuel deliveries.
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