13-11-14 Weekly gasoline stocks drop 4.9pct

LONDON, Nov 13 (Reuters) – Gasoline stocks at Europe’s Amsterdam-Rotterdam-Antwerp oil hub fell 4.9 percent to 502,000 tonnes in the week to Thursday, oil consultancy PJK International said.

PJK analyst Pieter Kulsen said the decline was related to strong demand for exported cargoes.
“We have quite substantial cargoes going to West Africa and China,” Kulsen said, adding that “this is the main reason they are going down”.

Gasoil stocks changed little, slipping to 2.655 million tonnes from last week’s 2.663 million.
Kulsen said this was down to the conflicting factors of a low flat price, which is leading to consumer buying in Germany and Switzerland, and ICE gasoil backwardation prompting traders to sell what they have now.

Naphtha and jet fuel stocks declined as a result of blending into gasoline and diesel pools, respectively, Kulsen said. Fuel oil inventories rose, according to PJK, as arbitrage possibilities to Asia remained limited.

13/11/14 06/11/14 14/11/13
GASOLINE 502 528 695
NAPHTHA 238 250 115
GAS OIL 2,655 2,663 1,832
FUEL OIL 534 498
708
JET FUEL 526 556 311
All figures in thousands of tonnes
Incoming cargoes Outgoing cargoes
GASOLINE France, Norway, Poland, Britain China, West Africa, USA
NAPHTHA Russia, UK Northwest Europe
GAS OIL Russia Germany
FUEL OIL Estonia, Norway, Russia Northwest Europe
JET FUEL India, Saudi Arabia, UAE

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