LONDON, Aug 17 (Reuters) – Oil product stocks at the Amsterdam-Rotterdam-Antwerp refining and storage hub rose in the week to Thursday after traders stepped in to fill a shortage seen in recent weeks, data from Dutch consultancy PJK International showed.
Stocks rose by around 8 percent to 5.462 million tonnes, after falling to their lowest levels since late November following a shutdown at Shell’s Pernis refinery in Rotterdam and backwardation in the market pricing, which discourages storage.
“Players have reacted to the shortage over the past week and decided to ship in more,” said PJK’s Patrick Kulsen.
Shell aims to restart Pernis by the end of August.
|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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