LONDON, March 20 (Reuters) – Gasoline inventories independently held at Europe’s Amsterdam-Rotterdam-Antwerp (ARA) storage hub rose 3.3 percent to a near-six-year high in the week to Thursday, data from Dutch oil consultant Pieter Kulsen showed.
Gasoline stocks rose on the week to 1.136 million tonnes from 1.1 million, with traders stocking up ahead of next week’s transition to summer gasoline blends, Kulsen said.
“There is a lot of business cargowise and barge demand improved despite low water levels on the Rhine,” Kulsen said.
“There is still more activity because we are in the process of changing to summer quality. The refinery maintenance programme is supporting interest and there was some end user demand because of low pricing and favourable exchange rates.”
Fuel oil and jet fuel stocks also recorded gains on the week, with naphtha inventories more than doubling to reach 251,000 tonnes due to a rise in demand for gasoline blending.
“I think there is quite firm demand for gasoline blending and still expectations of cargos going into the States,” said Kulsen.
Gasoil stocks declined 5.1 percent to 1.765 million tonnes on the week, Kulsen’s data showed.
|Incoming cargoes||Outgoing cargoes|
|GASOLINE||Germany, Estonia, Finland, France, Italy, Britain||China, France, Mexico, Mediterranean for orders, Latin America for orders|
|NAPHTHA||Russia, Britain||CIF NWE for orders|
|GAS OIL||Latvia, Russia||Latin America for orders|
|FUEL OIL||Denmark, France, Lithuania, Poland, Russia||One vessel expected to depart for Singapore on March 26
|JET FUEL||Kuwait, UAE||Britain, France|
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