LONDON, April 11 (Reuters) – Gasoline stocks independently held in Europe’s Amsterdam-Rotterdam-Antwerp hub rose this week to their highest level in nearly five years, data from Dutch oil analyst Patrick Kulsen showed on Thursday.
Gasoline inventories in the week ending April 11 rose 9.5 percent to 1.05 million tonnes, the highest level since May 1, 2008.
“The increase is due to cargoes with a total volume of 84,000 tonnes that are waiting to be loaded in the coming days,” Kulsen said.
“If you take that into account, you see a smaller increase due to the switch from winter-grade to summer-grade gasoline,” he added.
Cargoes of gasoline arrived from Denmark, Finland, Libya and Latvia and outgoing vessels headed to Britain, Canada, Mexico and the United States.
Naphtha stocks rose 1.9 percent to 107,000 tonnes amid weak demand for product from plastic manufacturers, gasoline blenders and key Asian markets. No cargoes entered or left the hub over the past week, Kulsen said.
Fuel oil inventories dropped 18.4 percent to 686,000 tonnes after a VLCC departed from ARA to Singapore earlier last week. A second VLCC of fuel oil was loading and scheduled to depart for Singapore on April 15, Kulsen said.
Cargoes of fuel oil arrived from France and Russia. Gasoil stocks remained largely unchanged at 2.453 million tonnes.
“The gasoil and diesel markets are balanced. There has been quite strong demand in Germany and the Benelux and also more input,” Kulsen said.
Vessels carrying gasoil arrived from Britain, Germany and Russia and left for France and Nigeria for orders.
Jet fuel stocks rose 23.8 percent to 374,000 tonnes after vessels from India and the United Arab Emirates arrived and no vessels were dispatched.
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