ARA fuel oil stocks climbed 18% in September
The ARA’s independently held fuel oil stocks averaged 18% higher in September, compared to August’s monthly average, according to Insights Global data. Changes in monthly average ARA stocks from August to September: Fuel oil stocks up 851,000 bbls to 5.47 million bbls Gasoil stocks up 513,000 bbls to 12.59 million bbls Fuel oil stocks increased ...
Fuel oil stocks at ARA hubs surged 18% in September, according to Insights Global data. This marked an increase from August's monthly average. ARA's fuel oil stocks rose by 51% since May, their lowest point in over a decade. However, inventories were still 15% below February levels preceding the conflict between Israel and Iran.
In September, ARA hub imports totaled 266,000 barrels per day (b/d), a decline from August's 342,000 b/d. The majority of these imports came from Mexico (19%), Colombia (13%) and Benin (12%). ARA's exports in September were 177,000 b/d, up from 144,000 b/d in August. These exports mainly went to Singapore (21%), Spain (19%) and Saudi Arabia (15%).
Independent gasoil (including diesel and heating oil) inventories in the region grew by 4% in September compared to August. ARA imported 197,000 b/d of gasoil in September, up from 155,000 b/d in August. The top sources for these imports were the US (29%), the UK (20%) and Saint Lucia (12%).
Suppliers in ARA ports are experiencing tight prompt bunker fuel availability. Buyers are advised to allow for 5-7 days lead times to secure good coverage from suppliers. However, recent loading issues have been experienced with fuel oil grades.
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.