ARA total product stocks fall to lowest since late Nov

LONDON, Aug 10 (Reuters) – Total oil product stocks at the Amsterdam-Rotterdam-Antwerp refining and storage hub fell to their lowest level since November 24 in the week to Thursday, data from Dutch consultancy PJK International showed.

Stocks were down 6.6 percent on the week to 5.06 million tonnes, with drops seen across all products.

A shutdown at Shell’s 404,000 barrels per day Pernis oil refinery in Rotterdam as well as backwardation in the market pricing for oil products which discourages storage are behind the falls, PJK’s Jacob van den Berge said.

Shell said on Thursday it aimed to restart most units at the Pernis refinery, which were shut down due to a fire in late July, before 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.
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