Naphtha Supplies Drop to Three-Month Low in Europe, PJK Says
Naphtha stockpiles held in independent storage fell to the lowest in three months in Europe’s Amsterdam-Rotterdam-Antwerp oil-trading hub, according to PJK International BV.
Supplies decreased 18 percent to 108,000 metric tons in the week to today, the least since May 24, according to data from the researcher based in Breda, the Netherlands. Inventories dropped as refiners used more of the feedstock to make gasoline, Pieter Kulsen, founder of PJK, said today by phone.
“A lot of naphtha went into the gasoline pool and not into the petrochemical industry,” Kulsen said.
Gasoline stockpiles fell 6.7 percent to 688,000 tons as cargoes were exported countries including to China, Mexico and Nigeria, the data showed. European traders are destocking summer grade and building inventories of winter blend, he said.
Gasoil supplies slumped 6.3 percent to 2.32 million tons, the data showed.
1,000 Tons Change Gasoline 688 -49 Naphtha 108 -23 Gasoil 2,318 -156 Fuel Oil 726 93 Jet Fuel 336 -30
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