09-01-15 ARA gasoline stocks fall 18 pct on week

LONDON, Jan 8 (Reuters) – Gasoline stocks independently held at Europe’s Antwerp-Rotterdam-Amsterdam hub fell by 18.3 percent to 730,000 tonnes in the week to Thursday, data from Dutch-based PJK International showed.

“The cargoes going to Singapore were the main cause for the drop,” PJK’s Patrick Kulsen said.

Overall stocks including gasoline, gasoil, diesel, fuel oil, naphtha and jet hit a fresh 3-1/2-year high last week, reaching 5.184 million tonnes. The increase was driven by gains in gasoil, which rose 6.2 percent to 2.786 million tonnes, the data showed. Stocks of naphtha and fuel oil also increase.

“The market is in contango,” Kulsen said. “That stimulates traders to hold on to inventory.

 

08/01/14 31/12/14 09/01/14
GASOLINE 730 894 844
NAPHTHA 236 237 127
GAS OIL 2,786 2,724 1,814
FUEL OIL 908 715
741
JET FUEL 524 523 463
All figures in thousands of tonnes
Incoming cargoes Outgoing cargoes
GASOLINE Finland, Italy, Norway, Britain Sinagpore, Spain
NAPHTHA none Germany
GAS OIL Estonia, Finland, Poland, Russia, Britain France, Britain
FUEL OIL Brazil, Finland, Lithuania, Russia, US, Germany One VLCC destination Singapore, 9 January departure
JET FUEL South Korea, Kuwait none

PJK International – Oliehandel Training
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