Independent fuel oil reserves at ARA Port have increased by 6% compared to the average of September in early October. According to the provided data, fuel oil reserves have increased by 310,000 barrels, reaching 5.78 million barrels. Furthermore, diesel reserves have increased by 734,000 barrels, reaching 13.32 million barrels.
Analysis of Fuel Oil and Diesel Reserve Changes
Fuel oil reserves have increased by 60% since May, when they recorded the lowest level in over a decade. These reserves are now 11% lower than the levels in February, before tensions in the Middle East and disruptions in oil and gas flows through the Strait of Hormuz.
Read more: Increase in Daily Earnings of VLCC Tankers to $805,000
Imports and Exports of Fuel Oil and Diesel
Ara Port has imported 250,000 barrels per day of fuel oil so far in October, down from 266,000 barrels per day in September. The largest volumes of goods have been sourced from Lithuania (25%), Mexico (18%), and France (16%). Meanwhile, the region has exported 111,000 barrels per day of fuel oil so far in October, also down from 177,000 barrels per day in September, primarily for discharge in Spain (32%), Guinea (11%), and Sweden (9%).
Independent diesel reserves – including diesel and heating oil – have also increased by 6% in October compared to September. The region has imported 233,000 barrels per day of diesel so far in October, up from 197,000 barrels per day in September. The largest volumes of diesel imports have come from Germany (41%), India (27%), and the United Kingdom (21%).
The current bunker inventory conditions at ARA Port are limited for immediate supply, and buyers have been informed of delivery times of 5 to 7 days for sourcing materials from suppliers.
Read more: ICIS Ranking and Challenges of Iran's Petrochemical Industry · Brent and West Texas Crude Oil Prices Under Pressure from Rising U.S. Reserves
