The volume of oil products held in independent storage at the Amsterdam-Rotterdam-Antwerp (ARA) hub rose in the week to 3 January, according to consultancy Insights Global.

Independently-held gasoline stocks at ARA continued their downward trend for a fifth consecutive week, dropping to the lowest since December 2021. The stocks fell after a drop in the week to 27 December, reflecting slower export demand, while gasoline blending activity remained low. Inland demand also declined as there was little need to move refined products up the Rhine after refining capacity in southern Germany was brought back online.

Gasoline cargoes arrived at ARA from origins in Scandinavia and across western and southern Europe on the week. Cargoes went out to the Mediterranean and Latin America, but not the US. Cargoes also went to Germany and France.

Despite slower gasoline blending demand on the week, some naphtha restocking took place up the Rhine. The Dimitri, a Litasco-booked LR2 tanker departed the hub with naphtha with delivery options in Japan. Naphtha stocks at the ARA hub fell on the week.

Independently-held gasoil stocks, which are mostly road diesel, were a pc lower on the week and another pc lower on the year, registering. Exports appeared to be stronger while fewer cargoes arrived. Gasoil cargoes mostly came from western Europe, India and the US. Outgoing cargoes were on the way to Latin America, Scandinavia, western Europe and Poland.

Jet fuel stocks increased on week to their highest in nearly two months, which may reflect weaker air travel demand after the Christmas holiday period. Cargoes arrived at ARA from Kuwait and India, while they left for Norway and the UK.

Independently-held fuel oil stocks grew on week to their highest since July. Higher prices for HSFO in ARA and a weaker Singapore market meant that the arbitrage to Singapore was not workable on the week, helping the stocks to build. Fuel oil cargoes left ARA for the Caribbean, western Europe, the Mediterranean and Scandinavia, while they arrived from India, the Mediterranean, western Europe and the US.

By Mykyta Hryshchuk