ARA jet stocks at 3-yr high on rising imports, low demand – Insights Global


Jet fuel stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub have risen nearly 10% in the past week to their highest in more than three years, data from Dutch consultancy Insights Global showed on Friday.

Jet stocks, which stood at 845,000 tonnes, rose on persistently weak demand and rising imports from the Mideast Gulf, Insights Global’s Lars van Wageningen said.

Gasoil stocks rose by 5.5% to 2.57 million tonnes, a 4-month peak, despite higher demand from inland locations as imports to the hub increased, he added.

Fuel oil stocks dropped by 4% on rising exports from the hub, with the arbitrage to Singapore opening up.

Weekly ARA stocks (in '000 tonnes)
    
              22/05/2020  14/05/2020  23/05/2019  
 Gasoline     1,388       1,291       937         STK-GL-ARA
 Naphtha      471         445         213         STK-NAF-ARA
 Gasoil       2,577       2,442       2,561       STK-GO-ARA
 Fuel oil     1,672       1,743       1,116       STK-FO-ARA
 Jet fuel     845         769         778         STK-JET-ARA
 
              Incoming cargoes         Outgoing cargoes
 Gasoline     France, Mediterranean,   China, Suez for
              Russia, Spain, UK        orders, U.S., W.
                                       Africa
 Naphtha      Algeria, Russia, UK      None
 Gasoil       India, Norway, Russia,   UK
              Saudi Arabia             
 Fuel oil     Italy, Norway, Poland,   Caribbean, Malta for
              Russia, U.S.             orders, Saudi Arabia,
                                       Singapore, W. Africa
 Jet fuel     Saudi Arabia, UAE        UK

Source: Reuters (Reporting by Ahmad Ghaddar; Editing by Jan Harvey)



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