LONDON, Jan 19 (Reuters) – ARA gasoil stocks in independently held storage in the Amsterdam-Rotterdam-Antwerp hub rose for a fourth consecutive week to their highest since Sept. 8, data from Dutch consultancy PJK International showed.
Inventories in the week to Thursday were up 9.6 percent at 3.22 million tonnes, boosted by high import volumes into the hub and as low water levels along the Rhine river prevented barges from sailing fully laden, consultancy PJK International’s Patrick Kulsen said.
A steep contango in gasoil futures also encouraged traders to keep product in storage tanks.
Gasoline stocks also rose, by 6.2 percent, as exports to North America and Asia slowed and imports from northwest Europe and the Baltics grew, Kulsen said.
Jet fuel stocks fell sharply, by 11.9 percent. The increase is most likely to be a result of refinery turnarounds in the region, including a planned shutdown of a hydrrocracker at Exxon’s 193,000 barrels per day Rotterdam plant.
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