Fujairah fuel oil stocks rebuild, bunker stems still tight

Average fuel oil inventories at Fujairah climbed 14% month on month in September, according to FOIZ figures reported by Engine. Residual and heavy distillate stocks rose by 565,000 barrels to 4.50 million barrels. Middle distillate inventories jumped 879,000 barrels to 2.42 million barrels - the strongest monthly middle-distillate average since February.

That put the port's fuel oil stock average at its highest level since July, after a weak August reading near 3.93 million barrels. Cargo flows also recovered: Vortexa data show fuel oil imports rising to about 133,000 barrels per day in September from roughly 30,000 barrels per day in August. Exports climbed as well, and Fujairah remained a net exporter.

The rebuild has not yet translated into easier bunkering. A regional source told Engine that physical supply of all major grades stays extremely limited. US-Iran tensions keep disrupting traffic through the Strait of Hormuz, and uncertainty continues to weigh on arrivals.

For buyers, the message is timing, not just tank levels. Even with higher September inventories, operators calling Fujairah should still book early and treat prompt stems as difficult until regional logistics ease.