Refinery Woes May Limit ARA Gasoline Stockpiles: Insights Global

(Bloomberg) — Stockpiles of gasoline in independent
storage in Amsterdam-Rotterdam-Antwerp slumped to the lowest in
five months as high exports continued to be seen to U.S. and
Latin America, according to Insights Global.
* Gasoline stockpiles – in the week to
Thursday, lowest since Nov. 15
** While exports to U.S., Latin America remained elevated over
past week, the arbitrage window is now less favorable,
potentially meaning lower exports in coming week, Lars Van
Wageningen, operations manager of Insights Global, says by phone
** Still, with some spring refinery maintenance still ongoing in
Europe as well as unplanned outages — such as at Germany’s
Shell Godorf last weekend — higher local demand may limit
recovery for stockpiles: Van Wageningen
* Gasoil/diesel stockpiles – remains above
seasonal avg
** Steady flows inland along Rhine, as well as exports to places
like Argentina, outweighed the impact of continuing imports from
Russia, U.S.: Van Wageningen
* Fuel oil stockpiles remains lowest for time
of year since 2014
** The arbitrage to Singapore has closed again, leading to some
restocking: Van Wageningen
* Jet fuel stockpiles, highest since May 2017
** Seasonal demand is not so strong yet, causing a lag in
drawdown of stockpiles amid the continuing arrival of imports:
Van Wageningen

Reporter: Bill Lehane

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