ARA gasoline stocks jump, pushing products to fresh nine-month high -PJK – Reuters News

LONDON, Feb 15 (Reuters) -Gasoline stocks in independently held storage in the Amsterdam-Rotterdam-Antwerp hub rose by nearly 11 percent to their highest since July 2016, data from Dutch consultancy PJK International showed on Thursday.

The boost was the third consecutive week of rising gasoline stocks, which helped press overall stores of clean products to 6.1 million tonnes, the highest since May 11.

PJK’s Lars van Wageningen said exports to West Africa had slowed over the course of the week, while some unusual imports had arrived in ARA from Russia.

Still, he said there were several Aframax vessels waiting to load for West Africa now, and that export fixtures were “still quite busy”.

Naphtha stocks rose by nearly 14 percent, which van Wageningen said was due in part to petrochemical plants favoring LPG feedstock, which is currently far cheaper than naphtha.

While gasoil stocks dipped, van Wageningen said there is little hinterland demand due to warm weather, high stocks and a lower import tariff in Switzerland that will take effect on April 1.

As a result, buyers had little interest in fresh deliveries.