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Europe’s Naphtha Stockpiles Near Record High

OIL PRODUCTS

Weekly inventories held in independent storage in Europe’s ARA trading hub hit their second highest level on record, according to Bloomberg, citing Insights Global.

  • Stockpiles rose to 585k mt, the highest since June 2020.
  • The high inventories are due to Med-origin naphtha clearing into NWE, Kpler said.
  • This is due to a closed arbitrage to East Asia, as well as weak naphtha demand from local crackers and spring refinery maintenance.
  • Insights Global’s data goes back to 2008.

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