LONDON, Oct 9 (Reuters) – Gasoil stocks at Europe’s Amsterdam-Rotterdam-Antwerp hub dropped 2.75 percent in the week to Thursday to 2.788 million tonnes, according to data from Dutch-based oil consultancy PJK International.
A boost in deliveries along the Rhine in Germany sapped gasoil inventories, which include diesel, according to oil consultant Patrick Kulsen.
“Prices are pretty low and importers from Germany take advantage of the low prices to fill up their tanks,” Kulsen said.
Outright diesel barge prices are currently near a four-year low due to falling crude oil futures and relatively subdued consumption.
Gasoline stocks also dropped, declining 6.3 percent to 554,000 tonnes.
“We saw some pretty big lots going to Mexico and the U.S.,” Kulsen said.
Refinery maintenance in Europe is also limiting gasoline production. A gasoline-producing unit at Valero’s 270,000 barrel per day (bpd) Pembroke refinery underwent maintenance in September, while Shell’s 404,000 bpd Pernis refinery also had a planned shutdown.
|Incoming cargoes||Outgoing cargoes|
|GASOLINE||Finland, Norway, Russia, Britain||Libya, Mexico, USA|
|GAS OIL||Estonia, Latvia, Poland, USA||France, Egypt|
|FUEL OIL||France, Germany, Poland, Russia, Britain, USA||Singapore
|JET FUEL||Bahrain, Saudi Arabia, Kuwait||None|
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