LONDON, June 20 (Reuters) – Gasoline stocks independently held in Europe’s Amsterdam-Rotterdam-Antwerp hub rose by more than 5 percent on the week, data from Dutch oil analyst Pieter Kulsen showed on Thursday.
Slow demand for gasoline in the region and across the Atlantic contributed to the build in inventories, which increased by 5.3 percent to 788,000 tonnes over the week.
Gasoline cargoes entered the ARA hub from Britain, Finland, Poland and Turkey and headed out to Britain, Mexico, Nigeria, the United Arab Emirates, West Africa for order as well as northwest Europe.
Kulsen said there were still minimal delays along the upper Rhine following flooding.
“Trade along the Rhine has picked up following the floods… The Rhine has re-opened and traffic was normalized after last week’s delays,” Kulsen said.
Naphtha stocks were little changed in a similarly slow week, dipping by 1.5 percent to
129,000 tonnes as demand in Asia stalled and a lack of demand by gasoline blenders, who use the product to make the motor fuel, also weighed.
Incoming naphtha cargoes arrived from Russia.
Gasoil stocks were also steady, edging down by more than 1 percent to 2.072 mln tonnes, while jet fuel inventories dropped by 6.6 percent to 384,000 tonnes.
Gasoil cargoes arrived from Latvia, Norway and Russia and sailed to Argentina and the Mediterranean.
Fuel oil stocks rose by 2.1 percent to 718,000 tonnes over the week. Cargoes arrived from Britain, France and Russia and left for northwest Europe.
Jet fuel stocks dropped 6.6 percent to 384,000 tonnes as demand from airlines ahead of the summer traveling season picked up, Kulsen said.
Jet fuel cargoes arrived from Bahrain and India.
*COPYRIGHT NOTICE* – any unauthorised use, duplication or disclosure of ARA stocks data is prohibited without prior approval of PJK International B.V.