LONDON, May 30 (Reuters) – Gasoil stocks held at Europe’s Amsterdam-Antwerp-Rotterdam (ARA) storage hub rose by 6.1 percent to 1.841 million tonnes in the week to Thursday amid weak demand and plentiful cargo imports, data from Dutch oil analyst Pieter Kulsen showed.
Gasoline inventories fell to 969,000 tonnes from 1.038 million tonnes. Naphtha, fuel oil and jet fuel stocks all fell.
“In gasoline and gasoil, cargo business prevailed over barge. It was quiet along the Rhine due to backwardation on gasoil,” Kulsen said.
Demand for diesel and heating oil along the Rhine has been lacklustre for weeks, but cargoes have continued to make their way into the continent.
Gasoline inventories fell despite the tepid regional demand as cargoes were exported to the United States and West Africa, Kulsen said. Stocks of naphtha, in demand largely for gasoline blending, also fell, he said.
The approach of the summer holiday season, when more people travel by air, has also seen a draw on stocks of jet fuel, according to Kulsen.
|Incoming cargoes||Outgoing cargoes|
|GASOLINE||Germany, Latvia, Poland||Nigeria, Puerto Rico, West Africa for orders, USA|
|GAS OIL||France, Latvia, Norway, Poland, Britain, Russia, USA||France, Mediterranean for orders, Britain|
|FUEL OIL||Brazil, Britain, France, Norway, Russia||cif NWE|
|JET FUEL||Middle East, Russia||France, Britain|
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