ARA oil product stocks rise to record high – Insights Global

Total oil product stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by over 2% to 7.45 million tonnes in the past week, a record high, according to data from Dutch consultancy Insights Global.

Gasoline stocks were little changed at 1.4 million tonnes with exports to the U.S. and Canada picking up, Insights Global’s Lars van Wageningen said.

Gasoil stocks rose over 3% to 2.85 million tonnes, their highest since early September as demand from inland locations slowed. German buyers were likely postponing purchases due to full storage tanks and as they await a planned reduction in value added tax (VAT) from 19% to 16% for six months starting in July 1, Wageningen said.

Weekly ARA stocks (in '000 tonnes)
    
              11/06/2020  04/06/2020  13/06/2019  
 Gasoline     1,409       1,406       1,223       STK-GL-ARA
 Naphtha      587         517         245         STK-NAF-ARA
 Gasoil       2,845       2,755       2,981       STK-GO-ARA
 Fuel oil     1,712       1,745       1,066       STK-FO-ARA
 Jet fuel     902         870         832         STK-JET-ARA
 
              Incoming cargoes         Outgoing cargoes
 Gasoline     Finland, France, Italy,  Canada, China,
              Latvia, Norway, Russia,  Mexico, Singapore,
              Spain                    U.S., W. Africa
 Naphtha      Algeria, Russia, UK      None
 Gasoil       Finland, Russia, Saudi   France, Med, UK
              Arabia                   
 Fuel oil     Estonia, Latvia,         Med, Mideast Gulf
              Poland, Russia, UK       
 Jet fuel     South Korea, United      UK
              Arab Emirates

Source: Reuters (Reporting by Ahmad Ghaddar;Editing by Elaine Hardcastle)