LONDON, Dec 19 (Reuters) – Gasoline and gasoil stocks independently held at Europe’s Amsterdam-Rotterdam-Antwerp hub both rose last week, data from Dutch oil consultant Pieter Kulsen showed on Thursday.
Gasoline stocks rose by 9.2 percent to 676,000 tonnes while gasoil inventories were up 2.7 percent to 1.763 million tonnes, the data showed.
Kulsen said slow business along the Rhine and low demand were big drivers for the build in stocks .
“Business along the Rhine is still slack. People seem to narrow down their stocks towards the end of the year on fiscal grounds and demand is still very limited,” he said.
“Heating oil stocks in Germany, which is the key north-west Europe market, were at 61 percent so no one is really interested to do some business,” Kulsen added
On the strikes by workers at three Total refineries in France, Kulsen said the disruptions helped to put a floor under prices, though questioned the scale of the impact .
“Effectively if you look at the volume of business, day to day business is peanuts.” he said.
Fuel oil stocks rose 10.45 percent to 655,000 tonnes, jet fuel stocks rose 13.9 to 417,000 while naphtha was the only product to record a decline of 22.5 percent to 69,000 tonnes.
|Incoming cargoes||Outgoing cargoes|
|GASOLINE||France, Germany, Italy, Latvia, Sweden, Britain||Germany, Mexico, Norway, West Africa for orders|
|NAPHTHA||Russia||CIF NWE for orders|
|GAS OIL||Germany, India, Latvia, Morocco, Russia, U.S||Mediterranean for orders, Spain, Britain|
|FUEL OIL||Brazil, Lithuania, Russia, UK||None
|JET FUEL||India, Kuwait, Saudi Arabia||France|
*COPYRIGHT NOTICE* – any unauthorised use, duplication or disclosure of ARA stocks data is prohibited without prior approval of PJK International B.V.