Marine fuel sales at the UAE’s Fujairah bunker hub extended gains for a second straight month in August, logging a four-month high, Fujairah Oil Industry Zone data showed.

August sales totalled 650,502 cubic metres (about 644,000 metric tons), up 1.5% from July, based on FOIZ data published by S&P Global Commodity Insights.

Low-sulphur marine fuel sales, including low-sulphur fuel oils and marine gasoils, totalled 461,865 cubic metres in August, up 6.1% from July.

In contrast, high-sulphur marine fuel sales eased after hitting an 18-month high, sliding 8.2% to 188,637 cubic metres in August.
High-sulphur sales retreated as the price difference between low-sulphur fuel and high-sulphur fuel narrowed into August, after widening sharply in July.

However, market sources said that premiums for low-sulphur marine fuel firmed and hit year-to-date highs in early September. Supply in the UAE is expected to tighten slightly amid a halt in Sudanese oil imports, which typically go into topping refineries to produce low-sulphur marine fuel.
Source: Reuters