ARA fuel oil stocks rise to 17-week high – PJK – Reuters News
LONDON, April 19 (Reuters) –
Fuel oil stocks in independently held storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose to their highest since Dec. 21 as exports from the region to Asia slowed, data from Dutch consultancy PJK International showed.
Stocks rose by over 15 percent in the absence of any exports onboard a very large crude carrier (VLCC), which typically carry 270,000 tonne cargoes, PJK’s Lars van Wageningen said.
Gasoil stocks fell by nearly 7.5 percent to their lowest this year as imports slowed and exports from the region to other locations in northwest Europe and into inland locations rose, van Wageningen said.
Slower imports and slightly higher exports also led to lower gasoline stocks.