04-12-14 ARA gasoline stocks rise by a third

LONDON, Dec 4 (Reuters) – Gasoline stocks at Europe’s Amsterdam-Rotterdam-Antwerp hub rose by a third to 579,000 tonnes in the week to Thursday, according to Dutch oil analyst PJK International.

The increase represents a rebound from the previous week, when gasoline stocks hit a three-year low on the back of exports to west Africa, Latin America and the United States.

“It was very low, so it’s a natural correction,” PJK analyst Patrick Kulsen said. “There are cargoes going to west Africa and the United States.”

A decline in naphtha stocks of about 7 percent is also down to gasoline, Kulsen said, as traders buy it to blend into the gasoline pool destined for export markets.

Gasoil stocks rose 1.7 percent to 2.578 million tonnes, the data showed, though Kulsen said they could decline again in the coming weeks as winter weather spreads across Europe.

Jet fuel stocks fell by nearly 14 percent, despite pilot strikes that forced Germany’s Lufthansa to cancel flights for three days in a row.

04/12/14 27/11/14 05/12/13
GASOLINE 579 431 641
NAPHTHA 269 289 77
GAS OIL 2,578 2,543 1,673
FUEL OIL 744 660
695
JET FUEL 476 553 391
All figures in thousands of tonnes
Incoming cargoes Outgoing cargoes
GASOLINE Estonia, France, Poland, Sweden, Britain West Africa, US
NAPHTHA France, Portugal, Russia, Britain none
GAS OIL Finland, Norway, Sweden, US Spain, Britain
FUEL OIL Estonia, Germany, France VLCC for loading to Singapore to depart 6 december
JET FUEL Yemen, Kuwait, Saudi Arabia none

*COPYRIGHT NOTICE* – any unauthorised use, duplication or disclosure of ARA stocks data is prohibited without prior approval of PJK International B.V.