Bloomberg News

Gasoil Stockpiles Rise in Europe’s Oil-Trading Hub, PJK Says

February 02, 2012

(Updates with gasoil imports in second paragraph. See {PJKI<GO>} for the full data series.)

Feb. 2 (Bloomberg) -- Gasoil stockpiles in independent storage in Europe’s oil-trading hub gained for a third week to the highest in more than five months, according to PJK International BV.

Gasoil inventories in Amsterdam-Rotterdam-Antwerp increased 4.8 percent to 2.54 million metric tons in the week to today, according to PJK, a researcher in the Netherlands. That’s the highest since July 14. The fuel, which includes heating oil and diesel, arrived from Russia and the U.S. while cargoes were sent to the Mediterranean.

Gasoline stockpiles rose for a fifth week, gaining 1.9 percent to 821,000 tons, PJK data shows. That’s the most since April 7. Cargoes arrived from France, Germany, Italy, Latvia, Russia and the U.K. while cargoes were sent to Cameroon, China, Mozambique, Saudi Arabia and Singapore.

Naphtha inventories climbed 38 percent to 55,000 tons on imports from Poland and Russia, the data showed.

Fuel oil grew 9.4 percent to 760,000 tons as supplies arrived from France, Poland, Russia and the U.K., the data showed. A shipment was going to Singapore aboard a very large crude carrier, it showed.

Jet fuel climbed 26 percent to 631,000 tons as product arrived from the Middle East, Thailand and the United Arab Emirates. That’s the highest level since May 5.

The following table shows the weekly inventory changes in thousands of tons for gasoline, naphtha, fuel oil and jet fuel in independent storage in Amsterdam-Rotterdam-Antwerp.

--Editors: Alessandro Vitelli, John Buckley.

To contact the reporter on this story: Nidaa Bakhsh in London at nbakhsh@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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