05-02-2015 ARA gasoline stocks rise on contango

LONDON, Feb 5 (Reuters) – Gasoline and gasoil stocks independently held at Europe’s Antwerp-Rotterdam-Amsterdam (ARA) hub edged up in the week to Thursday, data from Dutch-based PJK International showed.

Gasoline stocks rose to 1.047 million tonnes from 959,000 tonnes a week earlier, while gasoil inventories rose to 3.004 million tonnes from 2.945 million.

A contango structure in gasoline, where prompt prices are lower than future quotes, has incentivised storage, PJK analyst Pieter Kulsen said.

A contango in the gasoil prices to the end of the year also supported storage, while inland demand along the Rhine river due to cold weather supported prompt demand, Kulsen said.

Weekly ARA stocks (in ‘000 tonnes)

05/02/2015  29/01/2015 06/02/2014 
 Gasoline 1,047 959 1,046
Naphtha 182 202 153
Gasoil 3,004 2,945 2,045
Fuel oil 979 876 821
Jet fuel 587 564 441

 

Incoming cargoes Outgoing cargoes
Gasoline Denmark, Finland, Sweden, UK Canada, Latin America, WAF for orders, USA
Naphtha Russia, UK cif NWE
Gasoil Lithuania, Poland, Russia, USA France, UK
Fuel oil Brazil, France, Germany, Norway, Poland, USA VLCC expected toarrive Feb. 11 and load for Singapore
Jet fuel South Korea, India France

 

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