Independently-held oil product inventories in the Amsterdam-Rotterdam-Antwerp (ARA) area faltered in the week to 26 October.

Naphtha stocks dropped most notably, according to the latest data from consultancy Insights Global. Japanese demand has depleted European supplies, with more than half the decline in stocks probably resulting from one Mizushima-bound shipment.

Nord Supreme departed Antwerp on 23 October, carrying naphtha and due to unload in Japan on 1 December, according to data from Vortexa.

Jet fuel stocks also dropped. With firm gasoil cracks, jet fuel is probably being blended into the diesel pool. Diesel cargoes of restricted origin — excluding Russian sources — averaged against North Sea Dated crude in the week to 26 October, incentivising refiners to focus on diesel output. Demand for jet fuel in aviation has also pressured ARA stocks.

Fuel oil stocks dropped on the week, with cargoes departing ARA for Denmark, Estonia, Germany, Poland, Ireland and the Caribbean. Departures have outpaced arrivals, with inventories falling by.

Gasoline stocks actually increased. Inventories of the road fuel probably rose with the conclusion of some refinery strikes in France, which in turn is working to ease tightness in the spot market for finished oil products.

Reporter: Georgina McCartney