2-10-2014: ARA oil products stocks rose w-o-w

London, 2 October (Argus) Stocks of products independently stored in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub in northwest Europe rose for the week, with the build in naphtha leading the gain.

According to data published by Dutch consultancy PJK International, total inventories climbed by 290,000t or 6.32pc to 4.88mn t.

Naphtha saw the largest rise, up by 76.5pc to 263,000t for the week. Lacklustre demand from both the gasoline blending pool and petrochemical companies, combined with contango in the forward price structure saw deliveries arrive from Estonia, France and the UK.

Gasoil stocks rose by 131,000t to 2.87mn t, despite an increase in trading activity along the Rhine. Stock levels were higher as a consequence of heavy import volumes arriving from the Baltic as well as low water levels restricting trade along the Rhine.

Jet fuel inventories came to 522,000t, higher by 100,000t. A fall in demand from the aviation sector because of strike action in France and Germany saw fewer barges leave storage, while cargoes arrived from the Mideast Gulf, India and South Korea.

Stocks of gasoline fell by 53,000t to 591,000t as a result of an increase in exports to the US, Canada and west Africa. Stocks have also been drawn because of seasonal refinery maintenance.

Fuel oil inventories rose by a marginal 2,000t, settling at 639,000t.

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