LONDON, Aug 14 (Reuters) – Gasoline stocks at Europe’s Amsterdam-Antwerp-Rotterdam (ARA) hub fell 5 percent to 724,000 tonnes in the week to Thursday, data from oil analyst Patrick Kulsen showed.
Gasoil stocks rose to 2.708 million tonnes from 2.610 million tonnes last week, the data showed. Naphtha, jet fuel and fuel oil stocks all rose.
|Incoming cargoes||Outgoing cargoes|
|GASOLINE||Britain, France, Spain, Sweden||Latvia, USA|
|NAPHTHA||Britain, Germany, Russia||Britain, Sweden|
|GAS OIL||Portugal, Latvia, USA||France, Britain|
|FUEL OIL||Brazil, France, Poland, Russia, USA||No VLCC|
|JET FUEL||South Korea||—|
Stocks of crude products independently stored in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub in northwest Europe climbed over the past week, with naphtha again leading. According to data published by Dutch consultancy PJK International, total inventories rose by 276,000t or 6.16pc to 4.76mn t.
Naphtha stocks were higher by 55.3pc for the week, at 236,000t. A combination of poor demand from regional gasoline blenders and petrochemical companies saw producers and trading houses deliver their product from Germany, Russia and the UK to storage facilities. Expensive freight costs, along with falling petrochemical premiums in Asia-Pacific, also saw provisionally booked arbitrage deliveries to the Asia cancelled.
Fuel oil inventories rose to 708,000t, up by 117,000t. With no VLCC deliveries being made to Asia-Pacific, arrivals from France, Poland, the Baltic, and the US saw stocks climb. Poor continental demand from inland Europe pushed gasoil stock levels up by 98,000t to 2.71mn t. Supplies sourced from Portugal, Latvia and the US were delivered to storage.
Jet fuel saw a marginal rise of 14,000t to 382,000t, as cargoes booked in July from Asia and the Mideast Gulf started to reach Europe and more European refiners increased jet fuel output. But steady seasonal aviation demand capped the increase.
Gasoline saw the only draw for the week, down by 37,000t to 724,000t. Export deliveries to the US exceeded arrivals coming from France, Spain, Sweden, and the UK. But gasoline stocks remain relatively high with bookings to the US and west Africa having fallen away.
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