Jet-Fuel Stockpiles Fall to Five-Month Low in Europe’s Hub
By Nidaa Bakhsh on April 26, 2012 http://www.businessweek.com/news/2012-04-26/jet-fuel-stockpiles-fall-to-five-month-low-in-europe-s-hub
Jet-fuel stockpiles in independent storage in Amsterdam-Rotterdam-Antwerp, Europe’s oil-trading hub, fell to the lowest level in five months, according to PJK International BV.
Inventories of the aviation fuel dropped 15 percent to 392,000 metric tons in the week to today even as supplies arrived from Bahrain and the United Arab Emirates, according to data by PJK, a researcher in the Netherlands. That’s the lowest level since Nov. 24.
Gasoil stockpiles decreased for a third week, dropping 3.1 percent to 2.53 million tons on exports to Latin America, the data show. That’s the lowest level since mid-March. Cargoes of the fuel, which includes diesel and heating oil, arrived from the U.S.
“Gasoil declined because there was a drop in imports from Russia this week,” Patrick Kulsen, commercial director at PJK, said by phone from Breda, where the company is based. Last week the fuel arrived from Finland, Russia and the U.S.
Gasoline stockpiles declined for a second week, falling 4.9 percent to 735,000 tons on exports to Mexico and Nigeria, PJK data show. That’s the lowest level in a month. Supplies arrived from France, Finland, India, Norway, Poland, Spain and the U.K.
Naphtha inventories increased 6.3 percent to 84,000 tons as cargoes arrived from Russia and the U.K., according to the data. That’s the highest level in a month.
Fuel oil stocks gained 5.9 percent to 633,000 tons as supplies arrived from Lithuania, Poland, Russia, Sweden and the U.K., the data show.
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.
1,000 Tons Change
Gasoline 735 -38
Naphtha 84 5
Gasoil 2,530 -80
Fuel Oil 633 35
Jet 392 -70