Markets

ARA fuel oil stocks down on exports to Singapore

Published October 19, 2017 Updated October 19, 2017 03:54pm

Stocks stood at around 1.26 million tonnes, a one-month low, after a very large crude carrier departed with a cargo to Singapore, PJK'S Jacob van den Berge said.

Gasoline stocks were little changed at 804,000 tonnes as imports offset exports during the week, while naphtha stocks fell due to strong demand from European petrochemical buyers, he added.

Gasoil stocks eased slightly to 2.52 million tonnes, with a backwardated market structure discouraging traders from keeping the product in storage tanks.

 

Copyright Reuters, 2017