Gasoline Stockpiles Rise to Year-High in Europe’s Oil-Hub
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 (ARASGSLN) 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.”
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.
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.
1,000 Tons Change Gasoline 881 77 Naphtha 68 -9 Gasoil 2,624 -114 Fuel Oil 787 -35 Jet Fuel 411 -24
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