1-11-2013: ARA gasoil stocks fall 4.2 pct over wee

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.

31/10/13 24/10/13 01/11/12
GASOLINE 590 599 598
NAPHTHA 141 142 63
GAS OIL 1,992 2,079 2,032
FUEL OIL 592 545
JET FUEL 385 291
All figures in thousands of tonnes
Incoming cargoes Outgoing cargoes
GASOLINE Denmark, France, Norway, Portugal, Sweden, Turkey, UK Mexico, UK, U.S., loading for China and Singapore for orders
NAPHTHA Norway, Russia
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

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