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.
|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|
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