Fujairah Fuel Oil Stocks See Moderate Increase Amid Regional Tensions

Fujairah's fuel oil inventories have seen an increase in September, rising to eight percent above their August level. The average stock of heavy distillate and residual stocks reached 4.24 million barrels, while middle distillate inventories climbed by 655,000 barrels over the same period.

The rise in fuel oil imports is notable, with a sharp increase from 30,000 barrels per day in August to 118,000 barrels per day in September. Russia remains the dominant supplier, accounting for 71 percent of imports, followed by Iran at 19 percent and Iraq at 10 percent.

The tight availability of fuel oil across all grades persists due to regional tensions, particularly the ongoing disruptions caused by tensions between the United States and Iran through the Strait of Hormuz. China has overtaken Singapore as the leading destination for Fujairah fuel oil exports.