LONDON, April 25 (Reuters) – Fuel oil stocks independently held in Europe’s Amsterdam-Rotterdam-Antwerp hub rose by 4.2 percent this week, while gasoline stocks were unchanged, data from Dutch oil analyst Patrick Kulsen showed on Thursday.
Gasoil stocks edged up 1.4 percent to 2.4 million tonnes, as demand for diesel in Germany and France began picking up ahead of the summer driving season and due to increased farming activity.
“We have seen a lot of imports of gasoil from Russia but that was balanced out by good demand,” Kulsen said.
Gasoil cargoes entered the hub from France and Russia but none were exported, Kulsen said.
Fuel oil inventories rose to 801,000 tonnes. Cargoes came from Brazil, Britain, France, Norway, Poland and Russia while one VLCC departed for Singapore this week.
Vitol this week booked another VLCC of fuel oil from northwest Europe to Singapore for May 11 loading, the third such vessel in the past four weeks, according to traders.
All figures in thousands of tonnes
Gasoline inventories remained unchanged and close to a five-year high as demand in the region remains weak.
Cargoes arrived from Britain, France, Latvia and Spain. Outgoing vessels headed to Britain, China, Nigeria and the United States, according to Kulsen.
European traders, struggling to sell gasoline in Europe and the United States, are resorting to shipping volumes across the Atlantic unsold, with 20 vessels heading west in coming weeks. (Full Story) Jet fuel stocks rose by 3.1 percent to 309,000 tonnes, with one cargo arriving from India.
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