Gasoil Supplies Rise to 6-Week High in Europe Hub, PJK Says

Gasoil stockpiles in independent storage rose to the highest in six weeks in Europe’s Amsterdam- Rotterdam-Antwerp oil-trading hub, according to PJK International BV.

Gasoil inventories increased 13 percent to 2.77 million metric tons in the week to today, according to PJK.

“There is a lot of product coming from Russia, the U.S. and India,” Pieter Kulsen, founder of PJK, said by phone from Breda, Netherlands, where the company is based. “The U.S. is long ultra-low-sulfur diesel and a lot of refiners there are sending material to Europe,” Kulsen said, referring to a surplus in the U.S.

Gasoline (ARASGSLN) stockpiles fell 3.4 percent to 627,000 tons as companies reduced their inventories of winter-specification fuel before the summer, he said.

The following table shows the weekly inventory changes in thousands of tons for gasoline, naphtha, fuel oil and jet fuel in independent storage in Amsterdam-Rotterdam-Antwerp.

                          Inventories   Change
Gasoline                          627      -22
Naphtha                            97      -13
Gasoil                          2,774      317
Fuel Oil                          910     -190
Jet                               488      -23

To contact the reporter on this story: Lananh Nguyen in London at lnguyen35@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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