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.
|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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