ARA Gasoline Stocks Down (Week 49)
Independently-held products stocks at the Amsterdam-Rotterdam-Antwerp (ARA) trading hub edged lower in the week to 6 December according to data from Insights Global, following lighter distillates draws.
The latest data from consultancy Insights Global show gasoline inventories at ARA fell in the week to 6 December. An inland pull remained towards west Germany, as refineries wrap up maintenance turnarounds.
Transatlantic export economics have become more workable, as the US seeks to build stocks ahead of the new year. Exports to west Africa remained busy.
The draws were present in data even as dock worker strikes in Belgium delayed loading and unloading operations, as cargoes were loaded onto ships but have not yet departed.
Demand for gasoil inland and across northwest Europe and the Baltics drove higher imports to the ARA trading hub. Independently-held gasoil inventories grew in the week to 6 December.
Oman has emerged as a source for gasoil and diesel recently, and more volumes from the country may be expected if the east-to-west arbitrage remains open, according to Global Insights. The Duqm refinery in Oman has scheduled the start-up of its hydrocracker in the new year.
Independently-held fuel oil stocks shed in the week to 6 December. The arbitrage to Singapore remained open, and several loadings of very low-sulphur fuel oil (VLSFO) have been scheduled to the city state, according to Insights Global.
By Anya Fielding