LONDON, July 23 (Reuters) – ARA gasoline stocks independently held in Europe’s Amesterdam-Rotterdam-Antwerp storage hub rose in the week to Thursday to their highest level since April 2014, according to data from Dutch consultants PJK International.
Refineries in Europe have been operating at near maximum rates in recent months as profit margins soared to multi-year highs on the back of strong oil products demand, particularly gasoline.
Gasoline refining margins have come off by around a third over the past week but remain supported by strong overseas demand, although exports have eased.
“We are seeing less export volume for gasoline, less than the last couple of weeks,” PJK analyst Patrick Kulsen said.
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Weekly ARA stocks (in ‘000 tonnes)
|Incoming cargoes||Outgoing cargoes|
|Gasoline||France, Latvia, Russia, Sweden, Spain, UK||Mexico, US, WAF for orders|
|Naphtha||France, Russia, Tunisia||None|
|Gasoil||France, Norway, Russia, Sweden, UK, US||Sweden|
|Fuel oil||Denmark, Estonia, France, Germany, Lithuania, Poland, Russia, UK||1 VLCC arrived at 19/7 and is expected to leave part cargo to Singapore on 23/7, 1 VLCC arrived at 20/7 and is expected to leave for Singapore 28/7|
|Jet fuel||Saudi Arabia||None|
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