LONDON, Oct 31 (Reuters) – Gasoil stocks independently held at Europe’s Amsterdam-Rotterdam-Antwerp hub fell 4.2 percent week-on-week to 1.992 million tonnes, their lowest level in nearly three months, data from Dutch oil consultant Pieter Kulsen showed on Thursday.
Jet fuel stocks at the hub rose 32.3 percent to 385,000 tonnes, while gasoline stocks fell 1.5 percent to 590,000 tonnes, the data showed.
“Barges along the Rhine to France, Germany and Switzerland are continuing to affect gasoil stocks,” Kulsen said.
Kulsen said large incoming cargoes had swollen stocks of jet fuel, which was used for blending into the pool of diesel.
“Aviation remains a slack market,” he said.
Traders said there has been strong demand for gasoil and heating oil in Europe in recent days due to pre-winter buying.
Diesel demand has been steady, although large arbitrage volumes from the U.S. Gulf have kept the region relatively well-supplied, they said.
|Incoming cargoes||Outgoing cargoes|
|GASOLINE||Denmark, France, Norway, Portugal, Sweden, Turkey, UK||Mexico, UK, U.S., loading for China and Singapore for orders|
|GAS OIL||India, Russia, Sweden||Argentina for orders, France, UK|
|FUEL OIL||Brazil, France, Poland, Russia, U.S.||—
|JET FUEL||India, Qatar, UAE||Loading for destination CIF NWE for orders|
*COPYRIGHT NOTICE* – any unauthorised use, duplication or disclosure of ARA stocks data is prohibited without prior approval of PJK International B.V.