27-11-14 ARA gasoline stocks to lowest since 2011

LONDON, Nov 27 (Reuters) – Gasoline stocks at Europe’s Amsterdam-Rotterdam-Antwerp hub fell 10.4 percent in the week to Thursday to 431,000 tonnes, their lowest since September 2011, according to Dutch oil analyst PJK International.

Strong demand in other regions has drawn cargoes out of Europe well beyond the U.S. summer driving season, which is typically the peak export period.

“Generally in the Mediterranean and west Africa, there is demand,” PJK analyst Pieter Kulsen said. “Also in Latin America.”

A string of refinery outages in Latin America for reasons ranging from refinery fires and power outages to planned maintenance have kept import demand high, particularly in Venezuela.

Gasoil stocks rose 2.5 percent to 2.534 million tonnes and Kulsen said heating oil stocks in Germany curtailed any further interest in storing cargoes.

“There is no winter still, so demand is limited,” he said.

Naphtha stocks fell as refiners exported more cargoes out of the region, mostly as blendstocks for gasoline.

“The chemical industry is not interested in naphtha feedstock right now,” Kulsen said.

27/11/14 20/11/14 28/11/13
GASOLINE 431 481 601
NAPHTHA 289 305 65
GAS OIL 2,534 2,472 1,688
FUEL OIL 660 510
JET FUEL 553 583 298
All figures in thousands of tonnes
Incoming cargoes Outgoing cargoes
GASOLINE Norway, Latvia, Poland, Britain Latvia, Mexico, Med, Puerto Rico, WAF, US
NAPHTHA France France, US
GAS OIL Russia, Spain Med, Britian
FUEL OIL Estonia, Russia, Britain ETA Nov. 28 VLCC for loading to Singapore
JET FUEL India, Kuwait France

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