5-12-2013: ARA gasoil stocks at new five-year low

LONDON, Dec 5 (Reuters) – Gasoil stocks independently held at Europe’s Amsterdam-Rotterdam-Antwerp hub slipped 0.9 percent last week to 1.673 million tonnes, a fresh five-year low, data from Dutch oil consultant Pieter Kulsen showed on Thursday.

Stocks of gasoil, which is used for heating, were at their lowest level since Nov. 20, 2008, the data showed .

“Heating demand along the Rhine, despite slightly cooler weather, is still slack,” Kulsen said. “We are ending the year so a number of players, for fiscal reasons, try to reduce stocks to the end of the year… Importers don’t have any real incentives to replenish stocks.”

Forecasts for a mild winter and subsequent lower consumption of heating oil in Europe likely to bring more bad news for the region’s refineries, which have seen profits crushed in recent months by waves of product imports.

Gasoline stocks rose 6.6 percent to 641,000 tonnes, while naphtha stocks gained 18.5 percent to 77,000 tonnes.
Fuel oil stocks fell 5.3 percent to 695,000 tonnes, and jet fuel inventories gained 31.2 percent to 391,000 tonnes.

 

05/12/13 28/11/13 06/12/12
GASOLINE 641 601 598
NAPHTHA 77 65 147
GAS OIL 1,673 1,688 1,847
FUEL OIL 695 734
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744
JET FUEL 391 298
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294
All figures in thousands of tonnes
Incoming cargoes Outgoing cargoes
GASOLINE France, Germany, Latvia, Turkey, Britain France, Spain, West Africa for orders, Britain, United States
NAPHTHA Russia cif NWE for orders
GAS OIL Russia, India Italy, West Africa for orders
FUEL OIL Brazil, France, Poland, Russia, Britain, United States None
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JET FUEL South Korea, Kuwait, Saudi Arabia None

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