https://arab.news/6g5pa
- The stronger volumes were led by a boost in high-sulfur marine fuel sales climbing 28.4 percent from June to 205,597 cubic meters in July
SINGAPORE: Sales of marine bunker fuel at the UAE’s Fujairah port rebounded in July after a slump in June to their highest in three months, official data showed.
July sales totaled 640,715 cubic meters (about 635,000 tonnes), up 13.8 percent from June, based on Fujairah Oil Industry Zone data published by S&P Global Commodity Insights.
The stronger volumes were led by a boost in high-sulfur marine fuel sales, which soared to their highest since January 2024, climbing 28.4 percent from June to 205,597 cubic meters in July.
A wider price difference between low-sulfur fuel oil and high-sulfur fuel oil likely drove more sales of the high-sulphur variety in July.
The front-month hi-5 price spread, which reflects the premium of low-sulphur over high-sulphur fuel oil, hit a six-month high of over $95 a tonne near mid-July, LSEG data showed.
Meanwhile, low-sulfur marine fuel sales, including low-sulfur fuel oils and marine gasoils, rose 8 percent to 435,118 cubic meters.
The market share of high-sulfur bunkers widened to 32 percent in July, while low-sulfur bunkers narrowed to 68 percent.