ARA product stocks fall to 5-month low

LONDON, June 8 (Reuters) – Total oil product stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp refining and storage hub fell by over 6 percent in the week to Thursday to their lowest since Dec. 29, data from Dutch consultancy PJK International showed.

Stocks stood at around 5.2 million tonnes and fell on the back of strong export demand for fuel oil and gasoline and firm demand for distillates in Europe.

Fuel oil stocks fell by 27 percent to their lowest since mid-October after two very large crude carriers departed from ARA with full cargoes to Singapore, PJK’s Patrick Kulsen said.

Gasoline stocks were down 8 percent as cargoes of the motor fuel were shipped to the Asia Pacific, the United States and West Africa.

Gasoil stocks were slightly down due to high demand for barges from inland buyers, Kulsen added.

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