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.
|Incoming cargoes||Outgoing cargoes|
|GASOLINE||France, Norway, Poland, Britain||China, West Africa, USA|
|NAPHTHA||Russia, UK||Northwest Europe|
|FUEL OIL||Estonia, Norway, Russia||Northwest Europe|
|JET FUEL||India, Saudi Arabia, UAE||—|
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