Total oil product stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by 3% to nearly 7.3 million tonnes in the past week, a record high, according to data from Dutch consultancy Insights Global.
Gasoline stocks rose around 8% to a record high of 1.4 million tonnes, on slowing exports and high downstream imports into the hub, Insights Global’s Lars van Wageningen said.
Gasoil stocks were up 5.5% to 2.75 million tonnes, the highest since mid-October, as exports up the Rhine to Germany and Switzerland slowed, with storage tanks there getting full, Wageningen said.
Weekly ARA stocks (in ‘000 tonnes)
04/06/2020 28/05/2020 06/06/2019
Gasoline 1,406 1,302 1,081 STK-GL-ARA
Naphtha 517 569 221 STK-NAF-ARA
Gasoil 2,755 2,611 2,741 STK-GO-ARA
Fuel oil 1,745 1,688 1,063 STK-FO-ARA
Jet fuel 870 910 744 STK-JET-ARA
Incoming cargoes Outgoing cargoes
Gasoline Estonia, France, Med, Mexico, U.S.
Russia, Spain, UK
Naphtha Algeria, France, Russia None
Gasoil India, Russia, Saudi UK
Fuel oil Baltics, Italy, Norway, Med, West Africa
Jet fuel UAE UK
Source: Reuters (Reporting by Ahmad Ghaddar; Editing by Mark Potter)