LONDON, May 16 (Reuters) – Gasoline stocks independently held in Europe’s Amsterdam-Rotterdam-Antwerp hub dropped 15.9 percent this week, data from Dutch oil analyst Pieter Kulsen showed on Thursday. Naphtha, gasoil, fuel oil and jet fuel stocks also declined from last Friday.
Gasoline inventories fell from their highest level since May 2008 to 898,000 tonnes as demand in the region as well as in overseas markets rose ahead of the summer season, Kulsen said.
“Most of the volume went to the cargo market, but there was some extra demand in the continent following last weekend’s long weekend,” he said.
Gasoline cargoes entered the ARA hub from Britain, France, Germany, Portugal and Spain while outgoing cargoes went to Britain, France, Mexico, Nigeria and West Africa for orders.
Naphtha stocks dropped 42 percent to 83,000 tonnes as more product went into gasoline blending. Cargoes arrived from Russia and Poland and went out to northwest Europe for orders.
All figures in thousands of tonnes
Gasoil stocks dropped 8 percent to 2.1 million tonnes with slightly stronger demand reported along the river Rhine in Germany, France and Switzerland.
Cargoes arrived from Norway, Russia and the United States and left for Argentina, Senegal and West Africa for orders. Fuel oil stocks dropped 12 percent as one VLCC loaded this week and was planned to depart for Singapore on Friday.
Fuel oil cargoes arrived from Brazil, Britain, Finland, France, Lithuania, Poland and Sweden. Jet fuel stocks slightly declined as demand in the region
remained weak, Kulsen said.
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