Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by 3% in the week to Thursday, according to data from Dutch consultancy Insights Global.
Gasoil stocks, which include diesel and heating oil, were at their highest since August 2019 and 5% above their five-year average, the data shows.
Diesel demand in the region weakened in recent days, with importers loading smaller cargoes on barges heading from ARA to inland markets because of a lack of storage, Insights Global’s Lars van Wageningen said.
Gasoline stocks declined 1.5% to 1.387 million tonnes because of stronger exports.
Weekly ARA stocks (in ‘000 tonnes)
18/06/2020 11/06/2020 20/06/2019
Gasoline 1,387 1,409 1,166 STK-GL-ARA
Naphtha 520 587 238 STK-NAF-ARA
Gasoil 2,888 2,845 2,810 STK-GO-ARA
Fuel oil 1,521 1,712 1,074 STK-FO-ARA
Jet fuel 879 902 841 STK-JET-ARA
Incoming cargoes Outgoing cargoes
Gasoline Finland, France, Russia Canada, Med,
Singapore, USA, WAF
Naphtha Latvia, Russia, UK None
Gasoil Russia, Saudi Arabia, France, UK
Fuel oil Russia, UK Med, Saudi Arabia
Jet fuel Saudi Arabia UK
Source: Reuters (Reporting by Ron Bousso, Editing by David Goodman)