Category: ARA stocks

Independently-held products at the Amsterdam-Rotterdam-Antwerp (ARA) trading hub fell in the week to 8 November, as blending component delays weighed on gasoline stocks, according to consultancy Insights Global.

Independently-held gasoline stocks in ARA fell in the week to 8 November, according to the latest data from Insights Global. Tightness around the Rhine region and in southern Germany has drawn volumes out of ARA, aided by higher river Rhine water levels. Exports to west Africa and to Switzerland have further driven stocks down.

On the supply side, fewer flows inland into ARA have limited replenishment. Blending activity has been complicated by delays in receiving blending components — of upwards of five days, Insights Global said — as securing ships to carry blending components has become more difficult, especially with relatively high freight rates. Draws on gasoline have outpaced production, reducing stock levels.

Naphtha stocks slipped in the week to 8 November, as demand for the product as a gasoline and petrochemical feedstock increased. Naphtha still prices at a premium to propane, but the spread between the two is shrinking, according to Insights Global.

Fuel oil inventories edged lower in the week to 8 November, as arbitrage economics to the Mediterranean were workable, according to Insights Global. But it is unclear if the Mediterranean is the product’s final destination or a layover on its way further east.

Reporter: Anya Fielding

Independently-held oil products stocks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub rose in the week to 25 October, as lack of export demand kept products in the region, according to Insights Global.

Naphtha stocks fell, a three-week low. Demand for naphtha as a petrochemical feedstock remained robust on the week, as more demand spurred shipments up the Rhine river. Firm blending demand also lent some support for naphtha demand, further reducing stocks. Despite being higher, imports into the region could not outweigh improving demand.

Gasoline stocks grew in the week to 2 November, the highest since mid-August, as export demand was lacklustre. The arbitrage from ARA to the US was less workable, according to Insights Global, while blending demand picked up. But demand up the Rhine river remained firm, in Germany and Switzerland in particular, with refineries under maintenance there.

Jet fuel stocks fell with lower exports and lacklustre demand, according to Insights Global. Cargoes came from Bahrain and Saudi Arabia and only left for the UK.

Gasoil inventories rose on the week with higher imports from southeast Asia and the Middle East, according to Insights Global. Northwest Europe received more diesel in the week to 2 November compared with a week prior, according to Vortexa. Inland demand remained high in the region, as a result of refinery maintenance works.

Fuel oil inventories rose, the highest since August. Both regional and export demand were low, while more fuel oil came down the Rhine because of Miro refinery maintenance. ARA also saw some cargoes coming from the Mediterranean, while the arbitrage east remained closed.

Reporter: Mykyta Hryshchuk

Independently-held oil products stocks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub held steady in the week to 25 October as logistical issues impeded exports and regional demand firmed, according to data from consultancy Insights Global.

Gasoline stocks grew in the week to 25 October — the highest since mid-September — as lower Rhine water levels hampered flows downriver. Transatlantic arbitrage economics remain less workable. Exports to west Africa and the Red Sea have been more favourable.

Gasoil inventories fell in the week to 25 October. Diesel demand has firmed inland because of refinery maintenance in the region. And diesel production has increased despite logistical issues to accommodate the rallying demand and ease tightness. Excess summer-grade diesel is being sent south of the Equator, to Angola, Argentina and South Africa.

Naphtha inventories rose in the week to 25 October. Demand for naphtha as a blending component and as a petrochemical feedstock was robust in ARA but weaker down the Rhine river. The increase in naphtha stocks result from increased imports of blending components, logistical issues, and the difficulty in securing products at the right specifications which has led to high waiting times and idle full tanks.

Jet fuel stocks fell in the week to 25 October, despite a seasonal lull in aviation demand. But jet fuel premiums have deterred the blending of jet fuel into winter-grade diesel.

Fuel oil inventories grew in the week to 25 October, as high-sulphur cargoes from the US Gulf coast help ease high-sulphur fuel oil tightness.

Reporter: Anya Fielding

Independently-held oil products stocks in the Amsterdam-Rotterdam-Antwerp (ARA) trading hub fell in the week to 18 October on lower imports and apparently firm demand, according to consultancy Insights Global.

Naphtha stocks dropped on stronger demand from the petrochemical sector up the Rhine river. Demand from gasoline blending remained stable, according to the consultancy, as some gasoline export routes appeared more viable. Naphtha cargoes arrived from the Mediterranean, northwest Europe and the US, but none left.

Gasoline inventories rose. Demand from Switzerland and Germany remained firm during the week. Low river Rhine water levels forced a build up of gasoline stocks as the shortage of barges kept cargoes from entering the river. Exports to the US appeared lower, but more cargoes headed to west Africa.

Diesel and gasoil inventories increased. Higher imports from China to address the supply tightness were seen during the week, with more coming in the weeks ahead, according to the consultancy. Inland demand remained strong, while refinery outages in Germany continued to put further pressure on supply in the region. German refiner Bayernoil could be forced into a complete shutdown of its 207,000 b/d Neustadt-Vohburg refinery in southern Germany until at least mid-November.

On the heavier side of the barrel, fuel oil stocks fell. Stronger inland demand coupled with lower imports may be the driving force behind it. The arbitrage route to Singapore appeared open in the week, helping to clear more product from the ARA region.

Reporter: Mykyta Hryshchuk

(ARA) trading hub fell in the week to 11 October on lower imports and as demand increased, according to consultancy Insights Global.

Naphtha stocks dropped on stronger demand up the Rhine river. Petrochemical demand appeared stable, albeit at a low level. Market participants anticipate marginally higher demand from the petrochemical sector for naphtha in the coming weeks. Gasoline blending remained stable, according to the consultancy, as gasoline export routes appeared more viable. Naphtha cargoes arrived from the Mediterranean, northwest Europe and the US, but none left.

Gasoline inventories increased, the highest in a month. Demand from Switzerland and Germany rose on the week. Low Rhine river water levels could pressure the German market as barges can only be laden halfway and market participants are willing to pay up for increasingly expensive barges, according to the consultancy. Shipments to the US and west Africa continued but supply to the hub outweighed demand, as more blending components arrived in ARA.

Diesel and gasoil inventories declined on higher demand from Germany, as a result of refinery outages in the country. On Wednesday, Germany’s 299,000 b/d Karlsruhe refinery shut down some of its units for scheduled maintenance works until the end of November, according to operator Miro.

Reporter: Mykyta Hryshchuk

Independently-held oil products stocks at the Amsterdam-Rotterdam-Antwerp (ARA) trading hub were buoyed by gasoline and naphtha stocks as they inched higher in the week to 4 October, according to consultancy Insights Global.

Naphtha stocks built after five weeks of drawdowns, are rising. Petrochemical demand was low, with some market participants noting petrochemical crackers in Europe. As gasoline demand continued to fade, blending demand also decreased in the ARA region, adding to the naphtha supply.

Gasoline inventories rose on the week. Demand remained weak in Europe and no exports to the US were spotted, while more summer-grade cargoes were sent to south America. Refinery maintenance in Europe made supply tighter in northwest Europe, somewhat helping demand up the Rhine river.

Jet fuel stocks increased, as demand remained low and no exports were spotted. Diesel and gasoil stocks decreased, mainly thanks to stronger export demand into the Mediterranean region. Demand there appeared stronger to compensate for refinery maintenance, with BP’s 108,000 b/d Castellon plant in eastern Spain to go offline on 15 October. Demand in northwest Europe also appeared firm.

Fuel oil inventories dropped for a fourth consecutive week. Bunkering demand was stable while the arbitrage to Singapore was open. According to Insight Global, there may be a reverse arbitrage route being workable, for cargoes going from the east of Suez into northwest Europe.

Reporter: Mykyta Hryshchuk

Independently held oil product stocks at the Amsterdam-Rotterdam-Antwerp (ARA) trading hub gained in the week to 13 September, according to consultancy Insights Global. An increase in fuel oil inventories drove the rise.

Fuel oil inventories rose, the highest since 23 August.

HSFO supply was tight in the region, according to the consultancy, while demand for bunker fuels remained level.

Gasoline stocks inched lower on the week.

Demand up the Rhine appeared lower, according to Insights Global, while gasoline blenders were exporting more to the US. Exports to west Africa appeared strong and some cargoes were sent to South America. Gasoline cargoes arrived from Denmark, Germany and Turkey, and left for Brazil, Canada and Egypt.

At the lighter end of the barrel, naphtha stocks declined the most on the week.

The reading was the lowest since the week to 20 April when naphtha inventories amounted.

Firm gasoline blending activity saw stronger demand for the product, as gasoline blenders were exporting more outside ARA, according to Insights Global. Vessels delivered naphtha to France, Italy and Norway, while none left.

Gasoil stocks declined in the week to 13 September.

The arbitrage from the Middle East to northwest Europe was open and workable, according to Insights Global, with more cargoes on route on the week. Gasoil discharged at the hub from Brazil, France and India, while cargoes left for Denmark, France and Ireland.

Reporter: Mykyta Hryshchuk

Independently-held oil product stocks at the Amsterdam-Rotterdam-Antwerp (ARA) oil product trading hub shed in the week to 23 August, according to consultancy Insights Global. A drop in gasoline inventories drove the downturn.

Gasoline blending activity at the northwest European hub was reportedly slower on the week, according to Insights Global, owing to tightened supply of octane-boosting components in ARA. Backwardation on the Eurobob swaps curve has steepened in recent sessions, probably incentivising players to shift product rather than put it into storage. September swaps reached as high as to October swaps on 23 August, almost twice as high as the spread between August and September swaps on the first day of the month.

Cargoes carrying gasoline arrived at the hub from Finland, the Mediterranean and the UK, while larger volumes departed for the US, Canada, Brazil and France.

Naphtha stocks also shrank on the week, according to Insights Global.

Naphtha’s spread to propane as a cracker feedstock has narrowed, according to Insights Global, which has worked to push up demand from the petrochemicals sector for naphtha, although demand up the river Rhine into Germany still remains relatively low.

Most of the naphtha at the ARA hub continues to go into the gasoline pool, Insights Global said. Naphtha was discharged at ARA from Algeria, France, the US and Italy, while no volumes loaded.

Gasoil inventories at the hub edged down.

Steep backwardation on the Ice gasoil froward curve is probably disincentivising players from allowing stocks to rise. Cargoes carrying gasoil arrived at ARA from Kuwait, Saudi Arabia, the UAE and the US, while volumes left for northwest Europe, west Africa and Scandinavia.

Reporter: Georgina McCartney

Independently-held oil product stocks at the Amsterdam-Rotterdam-Antwerp (ARA) hub gained in the week to 16 August, reaching their highest level since the end of June, according to consultancy Insights Gobal.

The increase was driven by a jump in gasoline inventories. The last time gasoline stocks at the hub were this high was at the end of March. The stockbuild follows weakening west African export demand, according to Insights Global, while transatlantic demand for European gasoline remains relatively stable.

Gasoline arrived at ARA from other parts of northwest Europe, Scandinavia and the Mediterranean over the past week, while volumes departed the hub for Brazil, the US, west Africa and Canada.

Gasoline blending activity has been firm at ARA, according to Insights Global, with ample blending components discharging and naphtha stocks shrinking by.

Continued weak demand for naphtha from the petrochemical sector has driven most of the available supply into the gasoline blending pool. Cargoes carrying naphtha discharged at ARA from Algeria, the UAE, Spain and Norway over the last week, while no product was loaded for export.

At the heavier end of the barrel, fuel oil inventories at ARA rose.

Pressure continues to build on shipowners to switch to cleaner fuels as they strive to meet their carbon intensity indicator targets. Fuel oil was imported into ARA from Poland, Spain and the UK, while smaller volumes left for Germany, the UK and the Mediterranean.

Reporter: Georgina McCartney

Independently-held oil product stocks at the Amsterdam-Rotterdam-Antwerp (ARA) trading hub declined in the week to 9 August, driven by a drop in jet fuel inventories, according to consultancy Insights Global.

Firm holiday season demand has eroded jet fuel stocks in northwest Europe. No jet fuel cargoes discharged at ARA in the past week, while volumes departed for the UK, leaving stocks down on the week.

Gasoil stocks at ARA also fell on the week. Vessels arrived in the area carrying diesel from Italy, Turkey and the UK, while smaller cargoes left ARA bound for France, Ireland, Poland and Sweden.

Bucking the broader trend, gasoline inventories at ARA grew. Gasoline arrived at ARA from France, Portugal, Spain and Sweden, while product was exported to Brazil, Canada, the US and west Africa.

Gasoline demand up the Rhine into Germany was lower on the week, with local refinery production meeting demand, according to Insights Global. Loading delays could also be contributing to the stockbuild, with barges waiting for up to 5-6 days. Blending economics were a little less workable at the hub as well, with continued tightness in the octane boosters market, according to Insights Global.

Less attractive gasoline blending economics may explain why naphtha was the only other product to see a rise in stocks at ARA, up on the week.

Demand for naphtha from petrochemical producers also remains lax, according to Insights Global. Naphtha arrived at ARA from France, Norway Turkey, the UK and the US over the last week, while smaller volumes left for the UK.

Reporter: Georgina McCartney