Fujairah’s fuel oil inventories increased by 14% in September

Fujairah's fuel oil inventories rose by 14% in September compared to the previous month, according to data from Fujairah Oil Industry Zone (FOIZ) and S&P Global. The average stocks of heavy distillate and residual fuel oil increased by 565,000 barrels to 4.50 million barrels, while middle distillate stocks grew by 879,000 barrels to 2.42 million barrels.

This surge brought the fuel oil inventories to their highest level since July, when they stood at 5.54 million barrels. In September, fuel oil imports to Fujairah increased to 133,000 barrels per day from 30,000 barrels per day in August. The imports primarily came from Russia (34%), Nigeria (21%), Bahrain (15%), and Saudi Arabia (12%).

Exports also rose by 51,000 barrels per day to 357,000 barrels per day, with Singapore being the top destination (34%), followed by Pakistan (16%) and Malaysia (11%). Despite the increased exports, Fujairah remains a net exporter of fuel oil. Middle distillate inventories, meanwhile, averaged 57% above August levels, the highest monthly average since February.

The region's bunker supply remains severely restricted due to ongoing US-Iran tensions, disrupting vessel traffic through the Strait of Hormuz. This uncertainty continues to dampen fuel oil arrivals in Fujairah.