London, 20 August (Argus) — Independent product stocks in the Amsterdam-Rotterdam-Antwerp region fell slightly during the past week despite a substantial increase in fuel oil inventories. Total product stocks stood at 6.324mn t today, down by 35,000t from a week ago, data from Dutch consultancy PJK International showed.
Fuel oil stocks climbed by 245,000t to 1.036mn t during the week as arbitrage to Asia-Pacific remained closed and no VLCCs were loaded to take product to Singapore.
Naphtha stocks also increased during the period, rising by 54,000t to reach 311,000t, marking an all-time high. Low water levels on the Rhine have impacted naphtha shipments to Germany. And demand for open-specification naphtha weakened.
But the increase in fuel oil and naphtha stocks was offset by declines in gasoil, gasoline and jet fuel inventories.
Gasoil stocks saw the most significant drop, falling by 209,000t to 3.251mn t after hitting a record high last week. Inland demand for diesel increased, while flows from Russia to the region were lower than in the previous week.
Jet fuel stocks decreased by 61,000t to 738,000t during the week as demand for the product showed an increase from the previous week’s levels, while imports remained steady.
And gasoline stocks declined by 64,000t to 988,000t as export flows to the US increased compared with early August, but remained relatively low.
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