ARA product stocks up 6 pct, led by fuel oil

LONDON, Sept 28 (Reuters) – Total oil product stocks held in independent storage facilities at the Amsterdam-Rotterdam-Antwerp refining hub rose more than 6 percent to 5.72 million tonnes in the week to Thursday, according to data from Dutch consultancy PJK International.

Fuel oil stocks were up nearly 17 percent to 1.29 million tonnes due to high import levels, particularly from the Baltics, and limited exports to main destination Singapore, PJK analyst Jacob van den Berge said.

He added the arbitrage to Asia from northwest Europe was now looking more attractive and more tankers were expected to come to Rotterdam to ship fuel oil in the coming weeks.

Gasoline was up around 3 percent with loadings to the United States muted throughout the week, ven den Berge said.

Gasoil stocks were up marginally with inland demand for the product seen weak.

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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