ARA fuel oil stocks edge up 2% in November as prompt supply stays tight

Independently held fuel oil stocks in the Amsterdam-Rotterdam-Antwerp (ARA) hub have averaged 2% above the October level so far this month, according to Insights Global data reported by ENGINE. Fuel oil inventories now average 5.68 million barrels, about 88,000 more than in October. Gasoil stocks reached 13.36 million barrels, a gain of 133,000.

The picture behind the build is mixed. Fuel oil imports into the region slowed sharply in early November compared with October, while exports picked up, with Estonia the largest destination. Gasoil imports rose, led by cargoes from India and Saudi Arabia. Fuel oil stocks are now 57% above their May low, which was the weakest level in more than ten years. They are still 12% below February, before the US-Israeli war with Iran started.

For buyers, the small build has not loosened prompt supply. A trader told ENGINE that availability remains tight and suggested booking around 5-7 days ahead for better coverage from suppliers. Vessels calling Rotterdam or Antwerp in the coming days should send enquiries early and avoid last-minute stems.