ARA oil product stocks up over 10 pct – PJK – Reuters News
LONDON, May 17 (Reuters) –
Total oil product stocks in independently held storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by over 10 percent in the week to Thursday to around 5.5 million tonnes, data from Dutch consultancy PJK International showed.
Fuel oil stocks rose 22 percent on high stock building and a lack of exports on board VLCC’s, PJK’s Lars van Wageningen said.
Gasoil stocks rose nearly 10 percent on low demand from inland locations, van Wageningen said.
High imports outweighed gasoline exports from the region during the week, leading to a 4 percent rise in stocks.