ARA gasoline stocks fall 11 pct on export demand

LONDON, Dec 31 (Reuters) – Gasoline stocks in the Amsterdam-Rotterdam-Antwerp storage hub fell by 11 percent on the week due to strong demand in the United States and West Africa, according to Dutch consultancy PJK International.

Gasoline stocks dropped by just over 100,000 tonnes as traders looked to take advantage of solid demand outside of Europe.

“Gasoline is down by a lot due to exports to the U.S. and West Africa,” said PJK’s Patrick Kulsen. “The arbitrage is open.”

Gasoil stocks also fell, by nearly 7 percent, due to a narrower contango and efforts to destock ahead of the year-end. Kulsen said there were also some indications of distillate exports to North Africa, particularly Morocco.

Morocco’s only oil refinery has been shut since the summer. Morocco is also preparing for a switch to 10 ppm diesel in March 2016, from the current level of 50 ppm.

 

31/12/2015 24/12/2015 31/12/2014
Gasoline 803 905 894
Naphtha 204 196 237
Gasoil 3,308 3,546 2,724
Fuel oil 1,162 1,185 715
Jet fuel 794 788 523

 

Incoming cargoes Outgoing cargoes
Gasoline Baltic, France, Russia, Spain, UK US, WAF
Naphtha France, Germany, Russia Far East
Gasoil Baltic, India, Russia, US None
Fuel oil Russia, France, UK ne VLCC left Dec. 29 for Singapore
Jet fuel Saudi Arabia, UAE None

 

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