27-03-14: Gasoil stocks slip as demand increases

LONDON, March 27 (Reuters) – Gasoil stocks independently held at Europe’s Amsterdam-Rotterdam-Antwerp (ARA) storage hub have fallen slightly week-on-week to 1.744 million tonnes, data from Dutch oil consultant Pieter Kulsen showed on Thursday.

He attributed the decline to a pick-up in demand for heating oil and diesel from end-users. “A number of people replenished their stocks,” he said.

“There was replenishing of diesel stocks because of the upcoming switch to summer grades and there was also some demand along the Rhine into Germany, France and Switzerland, despite the lower water levels.”

Gasoline stocks were almost unchanged at 1.137 million tonnes. Kulsen said incoming and outgoing cargoes had offset each other, as the market had been fairly active with more demand along the Rhine.

Naphtha inventories fell to 189,000 tonnes, from 251,000 tonnes last Thursday, due to outgoing cargoes and draws by gasoline blenders.

Jet fuel stocks fell to 463,000 tonnes from last week’s 487,000 tonnes as demand from the aviation sector increased ahead of the Easter holidays, Kulsen said.

Fuel oil stocks fell to 488,000 tonnes from 603,000 tonnes, as one VLCC loaded for Singapore.

27/03/14 20/03/14 28/03/13
GASOLINE 1,137 1,136 1,010
NAPHTHA 189 251 53
GAS OIL 1,744 1,765 2,481
FUEL OIL 488 603
808
JET FUEL 463 487 309
All figures in thousands of tonnes
Incoming cargoes Outgoing cargoes
GASOLINE Germany, France, Estonia, Latvia, Russia, Britain France, Mexico, Mediterranean for orders, West Africa for orders, United States
NAPHTHA Russian CIF NWE for orders
GAS OIL Russia, Britain, United States France, Britain
FUEL OIL France, Poland, Russia, Britain One VLCC loaded for Singapore
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JET FUEL Kuwait, UAE Britain, France

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