ARA gasoil stocks jump 13pc
Total oil product stocks in the Amsterdam-Rotterdam-Antwerp refining and storage hub rose by 13 percent in the week to Thursday to 5.74 million tonnes, led by increases in gasoil and gasoline inventories, data from Dutch consultancy PJK International showed.
Gasoil stocks rose 14.8 percent to 2.65 million tonnes due to higher imports into the region and as high water levels on the river Rhine interrupted barge shipments from the region to inland locations, PJK’s Patrick Kulsen said.
The Rhine was reopened to shipping on Wednesday after a fall in water levels, the German inland navigation authority said.
Gasoline stocks were up nearly 27 percent on rising imports and slower exports out of the area.
Fuel oil stocks also rose, despite two very large crude carriers (VLCC) departing with cargoes to Singapore during the week, Kulsen added.