ARA Gasoline Heads to U.S. After Refinery Fire Boosts Arb: IG

(Bloomberg) — ARA stockpiles of gasoline drew in
the past week on elevated transatlantic shipments of the road
fuel, according to Insights Global.
* Gasoline stockpiles fell in the week to July 3;
that was the biggest one-week draw since mid-May
** The arbitrage opportunity on the route re-opened after U.S.
gasoline prices jumped in the aftermath of the fire and
explosion at the PES refinery, Lars van Wageningen, operations
manager at Insights Global, said by phone
** EUROPE-AMERICAS FLOWS: PES Fire Prompts Surge in Loadings

** Stockpiles drew after Suezmax Minerva Evropi loaded fuel oil
and departed for Singapore; exports to Mediterranean, West
Africa also played a part: Van Wageningen
* Gasoil/diesel stockpiles, the highest since
mid-June and above average for the time-of-year
** Stockpiles gained mainly as a result of elevated imports from
India as well as inflows from Russia and the U.S., outweighing
the impact of stable flows inland along Rhine: Van Wageningen
* Click here for summary of latest weekly changes; see full
dataset

Reporter: Bill Lehane

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