OREANDA-NEWS. Independent product stocks in the Amsterdam-Rotterdam-Antwerp (ARA) region set a new record this week as all product categories saw increases in inventory levels. Total product stocks stood at 5.997mn t today, up by 270,000t from a week earlier, data from Dutch consultancy PJK International show.

Fuel oil stocks saw the largest increase, climbing by 101,000t to reach 982,000t as export flows to Singapore remained at a low level and bunker demand was weak.

Gasoil stocks rose by 81,000t to 3.193mn t, which is just below the record high of 3.224mn t reached two weeks earlier. Gasoil crack spreads remain high, stimulating production by refiners, while import flows from the Baltic region remain strong.

Gasoline inventories stood at 942,000t, up by 62,000t from a week ago despite strong export flows to the US. Gasoline production remains at a high level in Europe, while exports to west Africa are now likely to rise after Nigerian authorities released the country's third quarter import quotas.

Jet fuel and naphtha stocks rose marginally, climbing by 16,000t to 635,000t and by 10,000t to 245,000t, respectively.

Blending demand for light naphtha fell this week after firming at the end of last week. Jet fuel swaps are in contango, providing an incentive to put product into storage.