ARA gasoil stocks fall by nearly 8 pct on strong demand

LONDON, May 18 (Reuters) – Stocks of gasoil in independently held storage in Europe’s Amsterdam-Rotterdam-Antwerp hub fell by nearly 8 percent this week as strong demand across the region drained tanks, consultants PJK International said on Thursday.

Gasoil stocks slid by 7.8 percent, to 2.973 million tonnes, as buyers throughout Europe stocked up on cargoes.

“There is strong demand in Northwest Europe, the Mediterranean, the hinterland,” PJK’s Patrick Kulsen said, referring to inland Europe. “Mostly it is demand driven.”

Kulsen added that there are also fewer exports arriving from the Baltics, which kept some stocks from replenishing.

Overall stocks of oil products fell by 3 percent to their lowest level since early March, PJK data showed.

Still, gasoline stocks edged slightly higher on the week as export volumes to the United States and West Africa slowed, and fuel oil also increased due to the fact that just one vessel loaded for Asia during the week.

Learn more on current and future market dynamics that impact the ARA tank storage sector in our revised ARA TT study.
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PJK International is also consulted for (medium and long term) supply and demand forecasting, tradeflow forecasting, oil tanker vessel tracking and its view on price trends on NWE oil markets. Read more on PJK Consultancy Services
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