ARA product stocks down 3% -Insights Global
Total oil product stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by about 3% to 5.05 million tonnes in the week to Thursday, data from Dutch consultancy Insights Global showed.
Stocks of most products fell, except for fuel oil’s slight increase, the data showed.
Gasoil stocks fell by about 6% to 2.12 million tonnes and demand up the Rhine was stable, said Insights Global’s Lars van Wageningen.
Gasoline stocks fell 6% to 1.12 million tonnes as exports outpaced imports, Wageningen said.
Jet fuel stocks fell to their lowest since September 2014 at 418,0000 tonnes as demand to store the product in the hub dwindled, he added.
Weekly ARA stocks (in '000 tonnes) 27/02/2020 20/02/2020 28/02/2019 Gasoline 1,123 1,196 1,121 STK-GL-ARA Naphtha 235 270 219 STK-NAF-ARA Gasoil 2,117 2,254 2,406 STK-GO-ARA Fuel oil 1,160 1,043 911 STK-FO-ARA Jet fuel 418 434 612 STK-JET-ARA Incoming cargoes Outgoing cargoes Gasoline Finland, Russia, UK Mediterranean, Puerto Rico, West Africa Naphtha France, Poland, UK Mediterranean Gasoil Baltics, Russia, U.S. Germany, France, Norway, UK, West Africa Fuel oil Poland, Russia, U.S. Mediterranean Jet fuel None UK
Source: Reuters (Reporting by Ahmad Ghaddar, Editing by David Goodman)