Total ARA product stocks decreased by 2.8 over the week ending Feb. 28 to 5.053MM mt (38.5MM bbl) with fuel oil having posted the only week-on-week build. Inventories of the heavy product jumped up by 11.2 on the week and were 27.3 higher on the year, reaching a six-week high. Fuel oil imports to the ARA hub came from the US, Russia, and Poland during the week to Feb. 28, while cargoes left for the Mediterranean. Jet fuel inventories shrank 31.7 on the year for the second consecutive week and by 3.7 on the week, remaining at a low not seen since Sept. 2014. Demand for jet fuel storage in the region has reportedly been softening. Like the previous three weeks, no jet fuel imports were reported to have arrived, but cargoes were exported to the UK. Gasoil inventories declined by 6.1 on the week and by 12.0 on the year to a low not seen since the week endingjan. 18, 2019. Demand from points along the Rhine was reportedly steady, with gasoil export cargoes leaving for other Western European countries as well as West Africa, and imports arriving from the US, Russia, and the Baltics over the week.
展开▼
