30-05-14: ARA gasoil stocks rise on week

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.

30/05/14 22/05/14 30/05/13
GASOLINE 969 1,038 751
NAPHTHA 131 140 115
GAS OIL 1,841 1,734 2,111
FUEL OIL 594 658
828
JET FUEL 352 355 366
All figures in thousands of tonnes
Incoming cargoes Outgoing cargoes
GASOLINE Germany, Latvia, Poland Nigeria, Puerto Rico, West Africa for orders, USA
NAPHTHA Russia cif NWE
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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