12-02-2015 Weekly ARA gasoil stocks at 16-year high

LONDON, Feb 12 (Reuters) – Gasoil stocks held in independent storage at Europe’s Antwerp-Rotterdam-Amsterdam hub rose to a 16-year high of 3.065 million tonnes in the week to Thursday, data from Dutch-based PJK International showed.

Stockpiling by traders to take advantage of a contango market structure – which has now been eroded – and imports from outside the region have pushed gasoil inventories to their highest level since March 1999, consultant Patrick Kulsen said.

He added that some market participants may have stocked up ahead of seasonal maintenance lasting two months at the Miro refinery in Karlsruhe, Germany.

Gasoline stocks fell 22 percent to 811,000 tonnes, as large numbers of cargoes departed for the United States, West Africa and Latin America.

Weekly ARA stocks (in ‘000 tonnes)

12/02/2015 05/02/2015 13/02/2014
Gasoline 811 1,047 971
Naphtha 174 182 114
Gasoil 3,065 3,004 1,965
Fuel oil 1,113 979 832
Jet fuel 562 587 430

 

Incoming cargoes Outgoing cargoes
Gasoline Latvia LATAM, East of Suez, US, WAF
Naphtha Russia None
Gasoil Latvia, Qatar, Russia, Saudi Arabia, Sweden US South Africa, USAC
Fuel oil Brazil, Estonia, France, Germany, Polan, Russia, US 2 VLCC loading for Singapore
Jet fuel India, Qatar None

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