LONDON, Dec 3 (Reuters) – Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) hub rose sharply in the week to Thursday, data from Dutch consultancy PJK International showed.
Gasoline stocks were up by more than 20 percent at 758,000 tonnes, according to the data, as exports from the region slowed, PJK’s Patrick Kulsen said.
“There was a big increase in gasoline due to lower exports. The increase was seen across multiple terminals,” Kulsen said.
ARA gasoil stocks also rose due to an increased flow of imports and stronger storage incentives due to a sharp discount of prompt prices to future values, in what is known as contango.
Mild weather in northwest Europe put further pressure on demand while a revival of water levels along the Rhine river after months of barge traffic disruptions did little to spark demand, Kulsen said.
Weekly ARA stocks (in ‘000 tonnes)
|Incoming cargoes||Outgoing cargoes|
|Gasoline||France, Italy, Sweden, UK||China, Latin America, USA and West Africa|
|Gasoil||Nigeria, Russia, Saudi Arabia, UK, USA||None|
|Fuel oil||France, Norway, Poland, Russia, UK||2 VLCCs departure exp. Dec. 3 for Singapore|
|Jet fuel||South Korea, UAE||None|
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