18-12-14 ARA gasoline stocks rise to 4-month high

LONDON, Dec 18 (Reuters) – Gasoline stocks at Europe’s ARA hub rose by 10.5 percent to 756,000 tonnes in the week to Thursday, their highest level since late August, according to Dutch oil analyst PJK International.

Improved economics for storage, with a contango where gasoline for later delivery is more expensive than for prompt, have pushed up gasoline stocks sharply since November.

“There’s a contango in gasoline which supports storing the product, and there’s not so much demand from overseas markets so there’s not much of an export flow,” said Patrick Kulsen.

Gasoil stocks were little changed, declining to 2.653 million tonnes from 2.660 million tonnes last week.

Fuel stocks fell, while jet fuel supply rose slightly, the data showed.

18/12/14 11/12/14 19/12/13
GASOLINE 756 684 676
NAPHTHA 213 262 69
GAS OIL 2,653 2,660 1,763
FUEL OIL 629 681
JET FUEL 527 519 417
All figures in thousands of tonnes
Incoming cargoes Outgoing cargoes
GASOLINE Estonia, UK, Lithuania, Sweden Argentina, Ghana, Norway, US
NAPHTHA Estonia, Germany, Russia none
GAS OIL Qatar, Poland, Portugal, Sweden none
FUEL OIL Estonia, Poland, Russia, UK Two VLCCs part cargo destination Singapore has left
JET FUEL Kuwait, South Korea none

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