LONDON, May 23 (Reuters) – Gasoline stocks independently held in Europe’s Amsterdam-Rotterdam-Antwerp hub fell 5.5 percent week on week to their lowest level since early February, data from Dutch oil analyst Patrick Kulsen showed on Thursday.
Gasoline inventories fell to 848,000 tonnes from 898,000 tonnes the previous week. Kulsen said the reduction was due to anticipated demand from drivers in the run up to the driving season.
“(Gasoline is) moving along the Rhine before driving season, and we are seeing more demand from end users in Germany,” he said.
Gasoline cargoes came in from France, Russia and the UK and went to China, France, Germany, Mexico, Poland, the UK, Nigeria and the United States.
Gasoil stocks gained slightly, but held well below levels seen in recent weeks, also in part because of driving-season demand for diesel, Kulsen said.
Gasoil came in from Russia and the UK. It went to Argentina, France, Nigeria and Libya.
Jet fuel stocks rose to 346,000 tonnes from 316,000 tonnes. Kulsen put this down to reluctance of airlines to buy.
“They were hit by backwardation, and so they are only now buying what they really need.”
Fuel oil came in from Brazil, Finland, France, Russia and the UK, while one VLCC went to Singapore.
Naphtha stocks came in from Russia and Poland while none left.
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