LONDON, April 24 (Reuters) – Gasoline stocks independently held at Europe’s Amsterdam-Rotterdam-Antwerp (ARA) hub rose 7.9 percent to 994,000 tonnes in the week to Thursday, data from Dutch oil analyst Patrick Kulsen showed.
Gasoil stocks dropped 2.0 percent to 1.541 million tonnes. Naphtha stocks rose to 193,000 tonnes, fuel oil inventories rose to 631,000 tonnes while jet fuel stocks dropped to 382,000 tonnes, the data showed.
“Gasoline showed quite a build because there were fewer exports this week. There were cargoes to West Africa and the United States and that’s all,” Kulsen said.
Exports to the United States tend to rise from May, with the official start of the summer motoring season when demand peaks. Kulsen said that flurry of trade had yet to begin.
Low water levels on the Rhine in recent weeks have forced barges to carry half the normal load, Kulsen said. Such problems add to freight costs, but Kulsen said traffic was somewhat subdued anyway.
“It is not very busy. You have the regular contracted flow going up the Rhine… but spot traders are not in the market much at the moment.”
Kulsen said the gasoil market looked relatively balanced.
|Incoming cargoes||Outgoing cargoes|
|GASOLINE||Britain, France||WAF, USA|
|GAS OIL||France, Latvia, Sweden, USA||Argentina, Spain, USA, WAF|
|FUEL OIL||Brazil, Italy, Norway, Russia||no VLCCs|
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