ARA Oil Products Stocks Rise on Higher Imports (Week 47)
Independently-held oil product stocks at the Amsterdam-Rotterdam-Antwerp (ARA) trading hub rose in the week to 22 November, as higher imports and slower demand drove inventories higher.
Gasoline stocks dropped on the week, according to the latest data from consultancy Insights Global, as export demand picked up and there were delays replenishing gasoline stocks. Regional demand in ARA remained stable, while a notch more was exported to west Africa while the arbitrage to the US remained hard to work.
Naphtha stocks almost doubled on the week as higher imports outpaced modest demand in the region. Gasoline blending demand slowed down on the week, while more naphtha was stored in tanks, according to the consultancy. Petrochemical demand is picking up, while propane is getting pricier, letting more naphtha into petrochemical crackers.
Gasoil inventories also rose on the week, on the back of a wave of arrivals from east of Suez. Demand up the Rhine river remained firm during ongoing planned and unplanned refinery outages in parts of Germany.
Jet fuel stocks increased on the week. Winter diesel blending opportunities were behind a flurry of imports of jet fuel on the week.
By Mykyta Hryshchuk