LONDON, April 14 (Reuters) – Gasoline stocks held in the Amsterdam-Rotterdam-Antwerp (ARA) hub fell by just under 7 percent in the week to Thursday, Dutch consultancy PJK International said.
The drawdown came on the back of a strong pull into West Africa, with cargoes leaving Europe to sail to Guinea, Nigeria, Togo and for orders elsewhere.
“Gasoline decreased due to exports, mostly to West Africa … but also to the United States and Latin America,” PJK’s Patrick Kulsen said.
Naphtha stocks fell as strong petrochemical demand via barges and pipeline, blending into gasoline cargoes and backwardation on the forward curve led traders to clear cargoes from storage. Shipments of fuel oil to Singapore also drew down stocks for that product.
Only gasoil stocks registered a significant increase, as soft inland demand coupled with fresh imports boosted stocks. The International Energy Agency on Thursday said that it expected that Europe’s demand for diesel had fallen in the first quarter for the first time in nearly two years.
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.
Weekly ARA stocks (in ‘000 tonnes)
|Incoming cargoes||Outgoing cargoes|
|Gasoline||France, Spain, Sweden, United States, Venezuela||Brazil, Guinea, Nigeria, Togo, U.K., United States WAF for orders|
|Naphtha||France, Germany, Russia||None|
|Gasoil||India, Qatar, Russia, United States||None|
|Fuel oil||France, Poland, Russia, U.K.||One part-cargo VLCC arrived on April 10, to depart April 15. Another VLCC departed April 11|
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