Independently-held oil product stocks at the Amsterdam-Rotterdam-Antwerp (ARA) oil trading hub fell marginally in the week to 2 August, according to Insights Global.

A dip in fuel oil inventories drove the downturn.

Fuel oil stocks at hub fell, despite less workable arbitrage economics for product moving east to Asia-Pacific, Insights Global said. High-sulphur fuel oil (HSFO) supply is tighter at ARA than in Singapore.

Tankers discharged fuel oil at ARA from the US, the UK, Colombia and Poland and departed for west Africa and the Mediterranean. Demand in southern Europe is more on the bunkering side than refining, according to Insights Global.

Gasoil stocks at ARA rose in the week, with lower demand for diesel up the Rhine river. Gasoil arrived at the hub from the US, Saudi Arabia, India and Norway and smaller cargoes departed for northwest Europe, west Africa and Poland.

At the lighter end of the barrel, naphtha inventories fell on the week. The dip was mainly due to product moving into the gasoline blending pool, Insights Global said, with demand still muted from the petrochemical sector. Russian exports have shrunk, pushing buyers in Asia-Pacific to look to the Mediterranean for supply, it said. Naphtha unloaded at ARA from Algeria, the US and Norway and departed for the US.

Gasoline stocks declined, mostly thanks to transatlantic demand. Gasoline arrived at ARA from Scandinavia, Spain and northwest Europe and left for the US, west Africa, Germany and Canada.

Reporter: Georgina McCartney