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)
|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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