ARA total oil product stocks at 2017 low

LONDON, Nov 23 (Reuters) – Total oil product stocks in the Amsterdam-Rotterdam-Antwerp storage and refining hub fell by over 5 percent to their lowest this year, led by a big fall in fuel oil, data from Dutch consultancy PJK International showed on Thursday.

Total stocks stood at 4.86 million tonnes, and fell largely due to an 18.5 drop in fuel oil stocks to 1.05 million tonnes.

The fall in fuel oil was due to a VLCC departing to Singapore and to firm bunker fuel demand, PJK’s Jacob van den Berge said.

Gasoline stocks fell by 6 percent on strong exports from the region, while distillate stocks were slightly higher at 1.95 million tonnes.