LONDON, March 19 (Reuters) – ARA Gasoline stocks held in independent storage at Europe’s Antwerp-Rotterdam-Amsterdam hub rose 7.2 percent to 970,000 tonnes in the week to Thursday, data from Netherlands-based PJK International showed.
Gasoil stocks rose 3.8 percent to 2.961 million tonnes, after a drop of 8 percent in the previous week.
“It’s a little bit surprising that gasoil stocks have gone up. We saw a lot coming in from the Baltics and also from the U.S.,” said PJK’s Patrick Kulsen.
Two large cargoes of fuel oil bound for Singapore also added to the stock of fuel oil in the ARA hub, added Kulsen.
“It’s very, very busy in the fuel oil market,” he said.
Weekly ARA stocks (in ‘000 tonnes)
|Incoming cargoes||Outgoing cargoes|
|Naphtha||Germany, Poland, Russia||none|
|Gasoil||India, Latvia, Sweden, US||North Sea for orders|
|Fuel oil||Russia, Germany||One VLCC for Singapore, departing on 21 March. One VLCC expected to arive in ARA today.|
|Jet fuel||India, South Korea||none|
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