ARA product stocks fall this week, except for jet: Insights Global

London (Quantum Commodity Intelligence) - Major oil products stocks, held in independent tanks in ARA, drew this week with the exception of jet fuel, according to sources, citing analysts Insights Global.

Diesel and gasoil stocks held fell to 2.031 million mt over the week to May 20, down from 2.093 million mt a week earlier.

Middle distillate cracks versus Brent have been rising sharply this month and are projected to continue to rally though the year in the forward curve as demand recovers from the easing of lockdowns.

Gasoline stocks fell to 1.123 million mt, down from 1.196 million mt, and naphtha stocks fell to 297,000 mt from a four week high previously of 317,000 mt.

Fuel oil stocks in ARA also fell to 1.214 million mt, extending last week's drop to 1.265 million mt.

But jet fuel stocks rose to 967,000 mt, up from 934,000 mt a week earlier.