ARA gasoil stocks at more than four-month high

LONDON, Jan 19 (Reuters) – ARA gasoil stocks in independently held storage in the Amsterdam-Rotterdam-Antwerp hub rose for a fourth consecutive week to their highest since Sept. 8, data from Dutch consultancy PJK International showed.

Inventories in the week to Thursday were up 9.6 percent at 3.22 million tonnes, boosted by high import volumes into the hub and as low water levels along the Rhine river prevented barges from sailing fully laden, consultancy PJK International’s Patrick Kulsen said.

A steep contango in gasoil futures also encouraged traders to keep product in storage tanks.

Gasoline stocks also rose, by 6.2 percent, as exports to North America and Asia slowed and imports from northwest Europe and the Baltics grew, Kulsen said.

Jet fuel stocks fell sharply, by 11.9 percent. The increase is most likely to be a result of refinery turnarounds in the region, including a planned shutdown of a hydrrocracker at Exxon’s 193,000 barrels per day Rotterdam plant.

Learn more on current and future market dynamics that impact the ARA tank storage sector in our revised ARA TT study.

PJK International is also consulted for (medium and long term) supply and demand forecasting, tradeflow forecasting, oil tanker vessel tracking and its view on price trends on NWE oil markets. Read more on PJK Consultancy Services

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