Jet Fuel Stocks in ARA Hub Decline
The jet fuel and gasoil stocks in the Amsterdam-Rotterdam-Antwerp refining and storage hub fell by 4.5% in the week ending Thursday, according to data from Dutch consultancy Insights Global. Jet fuel stocks declined to 592,000 metric tons. The decrease was due to a decline in exports and a lack of imports. Gasoline stocks fell by 3.8% to 904,000 tons, the lowest level since May 2024. Insights Global’s Lars van Wageningen stated that cargoes were sent to South Africa and the United States. Additionally, an unusual trade occurred with Brazil. The low water levels in the Rhine River delayed blending activities. Wageningen noted that cargo loadings also slowed down. The risk of ships getting stuck in the river pushed freight rates up. Naphtha stocks fell by 18.3% to 339,000 tons. The increase in blending activities led to this decline. Domestic demand strengthened. However, two shipments were sent to Venezuela.
Markets are being cautious ahead of the TCMB interest rate decision. The petrol prices are fluctuating due to new conflicts in the Middle East and concerns over the Strait of Hormuz. Gold is expected to rise due to structural and geopolitical risks.