London — Jet fuel and kerosene stocks in the Amsterdam-Rotterdam-Antwerp and Ghenttrading hub fell 2.41% in the week ended Thursday, data from PJK Internationalshowed late Thursday.
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Register NowJet fuel and kerosene stocks fell to 568,000 mt from 582,000 mt theprevious week, to the lowest since March 22.
The drop was in part due to the lower-than-expected arrivals intoNorthwest Europe in April which sat alongside a steep backwardationcausing a reluctance to buy product to store.
One trader said the attitude of many in the market was to workhand-to-mouth, buying only what was needed when it was needed.
More arrivals are expected for the remainder of May, sources said, with asofter backwardation having the potential to encourage more traders to take onstock in preparation for the summer holiday season.
--Caroline Knight, caroline.knight@spglobal.com
--Edited by Jeremy Lovell, jeremy.lovell@spglobal.com