Fujairah's marine fuel sales reach three-month high in July

Sales of marine bunker fuel at the United Arab Emirates' port of Fujairah rebounded in July after a slump in June to their highest in three months, Fujairah Oil Industry Zone data showed.

July sales totalled 640,715 cubic metres (about 635,000 tonnes), up 13.8 per cent from June, based on FOIZ data published by SP Global Commodity Insights. The stronger volumes were led by a boost in high-sulphur marine fuel sales, which soared to their highest since January 2024, climbing 28.4 per cent from June to 205,597 cubic metres in July.

A wider price difference between low-sulphur fuel oil and high-sulphur fuel oil likely drove more sales of the high-sulphur variety in July. The front-month hi-five 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-sulphur marine fuel sales, including low-sulphur fuel oils and marine gasoils, rose eight per cent to 435,118 cubic metres. The market share of high-sulphur bunkers widened to 32 per cent in July, while low-sulphur bunkers narrowed to 68 per cent.

(Reporting by Jeslyn Lerh; editing by Mark Heinrich)