Fujairah fuel oil stocks slip 11% in October as LSMGO and HSFO stay limited

Fuel oil stocks in Fujairah have averaged 11% lower in October so far than over September, according to Fujairah Oil Industry Zone figures reported by Engine. Heavy distillates and residues fell by about 489,000 barrels to 4 million barrels. Middle distillate stocks went the other way, rising by 111,000 barrels to 2.53 million barrels, about 5% above the September average.

On the ground, a regional source told Engine that VLSFO availability has improved, even though ship traffic through the Strait of Hormuz is still disrupted by US-Iran tensions. LSMGO and HSFO remain limited. Attacks on ships in the Gulf of Oman and near Fujairah have also become more frequent, according to an ANZ Bank strategist quoted in the same market update.

For buyers calling Fujairah in the next couple of weeks, VLSFO stems look easier to place than they were. Anyone needing LSMGO or HSFO should enquire early, keep dates flexible and consider a backup port. The gap between VLSFO and HSFO prices in Fujairah remains far wider than in Singapore or Zhoushan, so scrubber-fitted ships still save more there when HSFO can be found.