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10-05-12 - ARA jet fuel stocks fall to low

LONDON, May 10 (Reuters) - Middle distillate inventories independently held in the Amsterdam-Rotterdam-Antwerp oil hub fell in the week to Thursday, with jet fuel dropping to its lowest since at least 2008, independent analyst Pieter Kulsen said.
Posted by Patrick Kulsen on 11 mei 2012 14:34:02
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Tags: ARA freight, Market Info, Oil Trading
LONDON, May 10 (Reuters) - Middle distillate inventories independently held in the Amsterdam-Rotterdam-Antwerp oil hub fell in the week to Thursday, with jet fuel dropping to its lowest since at least 2008, independent analyst Pieter Kulsen said.

Jet fuel stocks fell 7.6 percent to 388,000 tonnes, the lowest since comparable data started in mid-2008, Kulsen said.

Stocks of middle distillates, or jet fuel, diesel and gasoil, have remained significantly below year-earlier levels due to backwardation on the futures market.
 
"On top of that, demand from the aviation sector was better," Kulsen said.

Jet fuel cargo imports to the ARA tanks came from India, Kuwait and the United Arab Emirates, while outflows went to the aviation sector in Europe.

Gasoil fell marginally from last week to the lowest since mid-January, with some increase in diesel demand.

Gasoil exports were shipped to West Africa. Imports came from Russia, the UK, the United States, the Mediterranean and Northwest Europe.


10/05/12 03/05/12 12/05/12
GASOLINE 691 631 710
NAPHTHA 81 104 60
GAS OIL 2,395 2,401 2,897
FUEL OIL 598 571 682
JET FUEL 388 420 528

All figures in thousands of tonnes

Gasoline stocks rose 9.5 percent on the week to 691,000 tonnes due as an increase in imports exceeded an increase in demand along the Rhine, he said.

Gasoline imports came from France, Portugal, Russia and the UK. Exports were shipped to the United States, Nigeria and West Africa for orders.

Naphtha inventories fell as supplies went into the blending of gasoline. But the level remained higher than a year earlier due to imports from Tunisia and Russia.

Fuel oil stocks increase from last week, with imports from Finland, France, Russia and the UK. A part cargo of a very large crude carrier (VLCC) is currently loading fuel oil and is expected to sail off on May 16, Kulsen said.

Will the spring sun heat up Oil Markets?



*COPYRIGHT NOTICE* - any unauthorised use, duplication or disclosure of ARA stocks data is prohibited without prior approval of PJK International B.V.

The reporter on this story: Simon Falush, Ikuko Kurahone and Claire Milhench
Editor responsible for this story: James Jukwey
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PJK International B.V. is a company active in the international petroleum industry. It supports commercial business processes at trading and transport companies in this sector by delivering tailor made market research and market analysis.
 
 
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PJK International B.V. is a company active in the international petroleum industry. It supports commercial business processes at trading and transport companies in this sector by delivering tailor made market research and market analysis.