Fujairah Bunker Sales Rebound in Oct.

Marine fuel sales at the Middle Eastern bunker hub of Fujairah, in the United Arab Emirates, rebounded in October versus September but posted a year-over-year decline for a fourth straight month, the latest data showed.

Sales volumes at the world's third-largest bunker port, excluding lubricants, totaled 635,471 cubic meters (about 629,500 metric tons) in October, showed Fujairah Oil Industry Zone (FOIZ) data published by S&P Global Commodity Insights.

The sales climbed 3.3% month-on-month to a two-month high, but fell 2.9% from the same month last year, the data showed.

Ongoing geopolitical tensions in the Middle East have affected refueling demand in the region over the past months, trade sources said.

Total low-sulfur bunker sales, including residual fuels and marine gasoil, fell 7.3% to 435,000 cubic meters in October from the previous month.

Meanwhile, total high-sulfur fuel sales strengthened, with volumes soaring 37.5% month-on-month to about 201,000 cubic meters.

The uptrend was in line with that seen at other bunker hubs such as Singapore, as some buyers took advantage of the cheaper prices versus low-sulfur fuels amid a relatively wide price spread in October.

The market share of high-sulfur bunkers widened to 32% in October compared with 24% in September, while low-sulfur bunkers narrowed to 68% from 76%.