LONDON, Oct 1 (Reuters) – Gasoil stocks independently held in the Amsterdam-Rotterdam-Antwerp hub have inched lower, data from Dutch consultancy PJK International showed on Thursday.
However, stocks were still about 24 percent higher than the same time last year due to refineries pumping at close to full capacity because of strong margins, PJK’s Patrick Kulsen said.
Stocks rose last month to their highest since records began more than a decade ago.
The lower stocks could be attributed to slightly stronger demand in inland Europe, reflected by a busier barge market.
Gasoline stocks also fell slightly, with Kulsen saying that a backwardation in the market and exports to China had curbed the amount being stored.
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Weekly ARA stocks (in ‘000 tonnes)
|Incoming cargoes||Outgoing cargoes|
|Gasoline||Baltics, Russia, UK||China, Israel, West Africa|
|Naphtha||Germany, Poland, Russia||None|
|Gasoil||Saudi Arabia, UK, USA||Algeria|
|Fuel oil||Estonia, France, Lithuania, Poland, Russia, UK||VLCC, 2 Oct expected departure to Singapore|
|Jet fuel||Saudi Arabia||None|
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