LONDON, Sept 29 (Reuters) – Stocks of refined oil products held independently in the Amsterdam-Rotterdam-Antwerp oil hub fell by over 6 percent in the week to Thursday to their lowest this year, Dutch consultancy PJK International said.
Gasoline stocks fell by nearly 18 percent to a 2016 low on increased export activity to the United States and West Africa, PJK’s Patrick Kulsen said. While a backwardation in the futures market also meant that traders had less incentive to keep the motor fuel in storage tanks, he added.
Naphtha stocks fell sharply by over 28 percent to 212,000 tonnes due to strong demand from gasoline blenders and petrochemical plants, Kulsen said.
Gasoil stocks also fell, by over 5 percent to 3.02 million tonnes as imports into the region slowed and exports continued.
Refinery maintenance shutdowns in the region also contributed to the overall inventory draw.
PJK International is also consulted for (medium and long term) supply and demand forecasting, tradeflow forecasting, oil tanker vessel tracking and its view on price trends on NWE oil markets. Read more on PJK Consultancy Services.
|Incoming cargoes||Outgoing cargoes|
|Gasoline||Estonia, Poland, Russia||Brazil, Guinea, Israel, Nigeria, US|
|Fuel oil||Lithuania, Russia, UK||Two VLLCs expected to depart on Oct 6|
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