ARA light end stocks rise as traders look to export or store

LONDON, Dec 24 (Reuters) – Stocks of gasoline rose this week in the Amsterdam-Rotterdam-Antwerp hub due to contango in that market, while naphtha edged higher allowing traders to build export cargoes, according to Dutch consultancy PJK International.

Gasoline contango encouraged traders to build speculative stock positions, according to PJK’s Patrick Kulsen, while strong demand in Asia for naphtha cargoes drew more of it into the ARA region for export.

Cargoes of distillates, including gasoil, diesel and jet fuel, all slid over the past week, which PJK put down to efforts to limit stocks before the end of the year.

Warm weather has curtailed demand across inland European markets, while falling Rhine water levels were threatening to disrupt barge loadings on the key passageway into Europe again, though Kulsen said that thus far there was not a problem finding barges.

 

24/12/2015 17/12/2015 24/12/2014
Gasoline 905 816 644
Naphtha 196 143 149
Gasoil 3,546 3,742 2,736
Fuel oil 1,185 1,035 641
Jet fuel 788 803 422

 

Incoming cargoes Outgoing cargoes
Gasoline Baltic, Russia, UK Latin America, US, WAF
Naphtha France, Germany, Italy, Russia None
Gasoil Russia, US None
Fuel oil Russia, France One VLCC departed for Singapore on December 22. Second
to arrive Dec. 30, departing with partial for Singapore on Jan. 1
Jet fuel Saudi Arabia, South Korea, Taiwan None

 

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