ARA oil product stocks fall on gasoil draws

London, 18 October (Argus) — Oil product stocks held in independent storage within the Amsterdam-Rotterdam-Antwerp (ARA) trading hub fell by 4.1pc on the week today, as a result of a significant drop in gasoil volumes.

Stocks of gasoil rose fell by 5.3pc to their lowest in four weeks (see table). Cargoes arrived from Russia and departed for France, the UK and the Mediterranean. Demand from along the Rhine remained muted, particularly in the upper Rhine area.

Gasoline stocks fell by 7.1pc. Ample supply weighed blending margins, boosting outflows. Tankers left for Australia, Latin America, Singapore, the US and west Africa.

Fuel oil stocks rose slighlty. Tankers left the ARA area for Singapore and west Africa, and the Chios was still in ARA partially loaded today. Tankers arrived in the area from France, the Mediterranean, Latvia, Poland, Russia and Spain.

Naphtha stocks edged up, with demand from within Europe subdued amid narrow gasoline blending margins and transport issues on European waterways.

Reporter: Thomas Warner