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 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