Naphtha Stockpiles Rise to Three-Year High in Europe’s Hub

Naphtha stockpiles in independent storage in Amsterdam-Rotterdam-Antwerp, Europe’s oil-trading hub, climbed to the highest level in more than three years, according to PJK International BV.

The inventories rose 8.6 percent to 152,000 metric tons in the week to today on imports from Russia and Spain, according to PJK, a researcher in the Netherlands. That’s the highest since Dec. 24, 2008.

Gasoil supplies decreased 2.4 percent to 2.27 million tons on cargo shipments to Algeria and Argentina, PJK data showed. Supplies of the fuel, which includes heating oil and diesel, arrived from Canada, Russia and the U.S., it showed.

Gasoline stockpiles dropped 4 percent to 695,000 tons on exports to the U.K., the U.S. and West Africa, the data showed.

Fuel oil stocks declined 25 percent to 761,000 tons, the data showed. Jet fuel inventories fell 1 percent to 308,000 tons.

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.

                           1,000 Tons   Change
Gasoline                          695      -29
Naphtha                           152       12
Gasoil                          2,273      -55
Fuel Oil                          761     -250
Jet                               308       -3

To contact the reporter on this story: Nidaa Bakhsh in London at nbakhsh@bloomberg.net

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