Independently-held oil product stocks at the Amsterdam-Rotterdam-Antwerp (ARA) oil trading hub shed in the week to 12 July, according to Insights Global.

Gasoline inventories were down, driving the fall.

Gasoline inventories fell with an increase in transatlantic voyages, according to Insights Global. Gasoline arrived at ARA from northwest Europe, the Mediterranean and the Baltic, while product departed for Brazil, the US, Canada and Ghana.

Gasoil stocks at the hub also fell on the week, their lowest since the end of 2022.

Stocks at the hub shrank in part because of strong export demand to northwest Europe. Inventories fell despite weaker demand for gasoil up the Rhine, owing to low water levels restricting volumes, according to Insights Global.

Water levels have been at their shallowest over the past week since December.

Delays for barges to discharge at the hub are currently at three to five days, according to Insights Global, which has in turn reduced barge availability.

But it rained in the region yesterday, and water levels subsequently reached a more normal level for the season, so an increase in barge movements could occur next week, according to Insights Global. Vessels carrying gasoil discharged at the hub from Saudi Arabia, Spain, the UK and Bahrain while cargoes departed for France, Germany, the UK and Poland.

Bucking the trend, naphtha stocks at the hub rose.

Inventories probably grew as demand from the petrochemical sector remains reduced by more competitive propane prices, and low gasoline blending activity. Imports were firm this week, with product arriving from Algeria, Saudi Arabia, Senegal and the US, while no naphtha left the hub.

Demand for product into the hub probably remained strong on the expectation that blending activity will rise in the coming weeks, according to Insights Global.

At the heavier end of the barrel, fuel oil stocks shedding the week.

Inventories rose as the Singapore arbitrage route appeared less workable, allowing stocks to build. Fuel oil was discharged at the hub from Algeria, the US and Scandinavia, while product departed for west Africa, the Mediterranean and the UK.

Reporter: Georgina McCartney