LONDON, Dec 12 (Reuters) – Gasoil stocks independently held at Europe’s Amsterdam-Rotterdam-Antwerp hub rose by 2.5 percent last week to 1.716 million tonnes, the first gain in eight weeks, data from Dutch oil consultant Pieter Kulsen showed on Thursday.
Kulsen attributed the gain to the fact that suppliers were reluctant to take on stock as they positioned their books ahead of the year end.
“They are not buying for fiscal reasons. They are minimising stocks before the end of the year,” Kulsen said.
He added that consumers in Germany were holding back from buying as their tanks were relatively well stocked.
He said Swiss consumers had already stocked up their tanks ahead of a tax increase planned for Jan. 1.
Gasoline stocks declined 3.4 percent to 619,000 tonnes, while naphtha stocks rose 15.6 percent to 89,000 tonnes, fuel oil stocks fell 14.7 percent to 593,000 tonnes, and jet fuel fell 6.4 percent to 366,000 tonnes, the data showed.
(Stocks figures in thousands of tonnes.
|Incoming cargoes||Outgoing cargoes|
|GASOLINE||Cuba, France, Estonia, Latvia, UK||Mexico, West Africa for orders, South Africa,|
|NAPHTHA||Russia||CIF NWE for orders|
|GAS OIL||Russia, India, United States, Morocco||France, UK, Mediterranean for orders|
|FUEL OIL||Brazil, France, Lithuania, Russia, UK, United States||None
|JET FUEL||Russia, South Africa||CIF NWE for orders|
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