ARA gasoil stocks rise, inland demand stable

LONDON, Nov 26 (Reuters) – Gasoil stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) hub rose to a one-month high in the week to Thursday, data from Dutch consultancy PJK International showed.

The discount of prompt diesel prices to later months known as contango, deepened over the past week on higher supplies and limited demand.

An increase in water levels along the Rhine river after months of extremenly low levels that limited barge traffic did little to increase demand from inland markets including Germany and Switzerland.

“The contango still makes storing product interesting. With better loading along the Rhine, barges are able to load more than before but demand remains stable,” PJK’s Pieter Kulsen said.
Gasoline stocks were little changed over the past week.

Weekly ARA stocks (in ‘000 tonnes)

 

26/11/2015 19/11/2015 27/11/2014
Gasoline 625 629 431
Naphtha 173 206 289
Gasoil 3,584 3,557 2,534
Fuel oil 1,217 1,338 660
Jet fuel 761 801 553

 

Incoming cargoes Outgoing cargoes
Gasoline UK, Baltics Brazil, Mexico, Nigeria, USA
Naphtha Germany, Russia None
Gasoil Lithuania, Saudia Arabia, UK, USA None
Fuel oil France, Norway, Poland, Russia, UK VLCC sailing Nov. 27 for Singapore, VLCC expected Nov. 27
Jet fuel Taiwan, UAE None

 

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