S&P Global Commodity Insights reports that bunker fuel demand across several major Middle Eastern ports was stable to firmer during October, driven by strong pre-bookings and steady vessel activity.
In particular, Dubai saw a nearly 11% month-on-month increase in total bunkering and ship-to-ship calls, according to S&P’s Commodities at Sea data. Traders cited rising demand from bulk carriers bound for India and Oman as a significant factor.
At Fujairah, interest in high-sulfur fuel oil (HSFO) remained strong, supported by higher bulk carrier activity and adequate supply.
Platts assessed 3.5% sulfur HSFO on a delivered Fujairah basis, ending October at US$384.54/tonne, down slightly but still trading at a discount to Singapore.
Heavy and middle distillate stocks at Fujairah also saw sharp increases: heavy distillate stocks rose by 47% since end-2024, while middle distillates increased by 53%.
In Oman, demand for marine gasoil (MGO) remained firm at ports including Muscat, Sohar, Salalah, and Duqm. One supplier noted that MGO supply in Salalah rose by around 668 tonnes, reaching a monthly total of 5,000 tonnes in October. Platts assessed the average delivered low-sulfur MGO in Salalah at US$846.22/tonne, up around US$4.17 from the previous month.
Turning to southern Iraq, port activity was robust: Khor Al Zubair handled 479 vessels, and the Al Basra Oil Terminal recorded 305 ship calls in October. According to Platts Bunkerworld survey data, bunker volumes in Iraqi ports grew to 31,000 tonnes in October, up from 26,000 tonnes in August. Platts’ assessment for 0.5% sulfur marine fuel on a delivered Basrah basis was US$507/tonne, down US$9.75 month-on-month.
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Source: S&P Global Commodity Insights
