London — Jet fuel and kerosene stocks in the Amsterdam-Rotterdam-Antwerp and Ghenttrading hub rose 1.06% in the week ended Friday, data from PJK Internationalshowed late Friday.
Jet fuel and kerosene levels increased to 574,000 mt from 568,000 mt theprevious week.
Levels had been expected to rise slightly with a weakening backwardationand higher arrival numbers into the region over May.
Import numbers were expected to come in at just over 1.5 million mtaccording to data from S&P Global Platts trade flow software cFlow. Thisnumber is well above the 1.3 million mt in April.
With refineries steadily returning back after an extended maintenanceseason, and traders eyeing an opening arbitrage from Asia, product wasflowing at a greater rate into NWE.
That said, however, stocks remain comparatively low, moving intothe highest demand period of the summer which lead some participants tobelieve price support would remain for some time to come.
--Caroline Knight, caroline.knight@spglobal.com
--Edited by Jeremy Lovell, jeremy.lovell@spglobal.com