16-01-2014: Gasoil stocks independently held at Eu

LONDON, Jan 16 (Reuters) – Gasoil stocks independently held at Europe’s Amsterdam-Rotterdam-Antwerp hub rose 5.8 percent this week to 1.953 million tonnes, data from Dutch oil consultant Pieter Kulsen showed, but mild winter temperatures capped gains.

“Gasoil is slightly up but the mild winter means that demand along the Rhine is very slack,” he said. “Backwardation for gasoil importers means they don’t replenish stocks.”

Gasoline stocks dropped 9.3 percent to 841,000 tonnes. Naphtha and jet fuel inventories rose while fuel oil stocks fell.
Kulsen said there had been more gasoline cargo movements than barge movements as demand was very weak.

Naphtha stocks had risen slightly because it is used both for gasoline blending and petrochemicals, but Kulsen said the use of propane as an alternative feedstock has capped naphtha demand.

16/01/14 09/01/14 17/01/13
GASOLINE 841 927 748
NAPHTHA 158 118 160
GAS OIL 1,953 1,846 2,220
FUEL OIL 795 866
891
JET FUEL 460 443
325
(All figures in thousands of tonnes )
Incoming cargoes Outgoing cargoes
GASOLINE Estonia, France, Latvia, Poland, Britain Germany, Mexico, Nigeria, Saudi Arabia, Senegal, United States
NAPHTHA Greece, Russia, Spain Argentina, CIF North West Europe for orders
GAS OIL India, Latvia, Russia Argentina, Mediterranean for orders
FUEL OIL Brazil, France, Poland, Russia, Lithuania One cargo to sail on Jan. 10 to Singapore
JET FUEL Middle East CIF North West Europe for orders

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