LONDON, May 30 (Reuters) – Gasoline stocks independently held in Europe’s Amsterdam-Rotterdam-Antwerp hub fell by over 11 percent on the week to 751,000 tonnes, data from Dutch oil analyst Pieter Kulsen showed on Thursday.
Gasoline stockpiles were at the lowest since early February, the data showed, partly reflecting a decline in refinery processing rates due to seasonal maintenance, run cuts due to weak margins coupled with rising demand ahead of the peak summer season.
Cargoes arrived from France, Russia, Britain and Sweden and left for China, Mexico, Saudi Arabia and West Africa.
“Gasoline dropped since last week partly because of demand ahead of summer along the Rhine and the outgoing cargoes,” Pieter Kulsen said.
There was little change in gasoil and naphtha inventories, which both dipped marginally on the week.
Gasoil cargoes arrived from Lithuania and Russia while those leaving went to France, the Mediterranean and Britain.
“Same as gasoline, buyers were looking for diesel quality ahead of summer,” Kulsen said.
Naphtha cargoes arrived from Russia but only barges left hub for use in the chemical industry but more for the gasoline blending pool.
Fuel oil stocks in contrast rose by more than 16 percent to 828,000 tonnes, Kulsen’s data showed, while jet fuel stocks also increased by just under 6 percent to 366,000 tonnes.
All figures in thousands of tonnes
Cargoes arrived from Brazil, Estonia, Italy, Lithuania, Poland and Britain and one Very Large Crude Carrier, or 2 million barrels, was being loaded for Singapore for June 1 departure.
Jet fuel cargoes came from the United Arab Emirates and India with no cargoes leaving in an effort to ramp up stocks ahead of the peak summer travel season.
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