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Gasoline Stockpiles Rise to Year-High in Europe’s Oil-Hub

April 12 (Bloomberg) -- Gasoline stockpiles in independent storage in Amsterdam-Rotterdam-Antwerp, Europe’s oil-trading hub, rose to the highest level in more than a year, according to PJK International BV.

Gasoline inventories climbed 9.6 percent to 881,000 metric tons in the week to today as supplies arrived from Germany, France, Russia, Spain and the U.K., according to PJK, a researcher in the Netherlands. That’s the most since March 24, 2011. Cargoes were sent to Algeria, Morocco and the U.S.

“Stocks are being built ahead of the driving season,” Pieter Kulsen, founder of PJK, said by phone from Breda where the company is based. “And ahead of cargo shipments to West Africa and the Mediterranean where tenders have been awarded.”

Naphtha stockpiles fell 12 percent to 68,000 tons, even as supplies arrived from Russia, PJK data shows. That’s the lowest since Feb. 16.

Gasoil inventories, which also include diesel, decreased 4.2 percent to 2.62 million tons, the lowest in a month, the data show. Cargoes were sent to the Mediterranean while imports came from Finland, Russia and the U.S.

Jet fuel storage declined 5.5 percent to 411,000 tons even as cargoes arrived from India, according to the data. That’s the lowest level since Nov. 24.

Fuel oil stocks dropped 4.3 percent to 787,000 tons as a very large crude carrier is loading, scheduled to sail for Singapore on April 14, the data shows. Supplies arrived from Brazil, Finland, France and Russia.

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                          881       77
Naphtha                            68       -9
Gasoil                          2,624     -114
Fuel Oil                          787      -35
Jet Fuel                          411      -24

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

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