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ARA fuel oil stocks up 19pc

Friday, 02 August 2019 | 20:00

Fuel oil stocks in independent storage at the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose nearly 19pc to more than 1.2 million tonnes in the week to Thursday, data from Dutch consultancy Insights Global showed.

Stocks rose due to high imports into the region, Lars van Wageningen of Insights Global said, but he added that a VLCC was expected to load fuel oil soon to go to Singapore.

Gasoil stocks rose 1.2pc to just over 3 million tonnes, their highest since mid-October 2018, as demand up the Rhine river to inland locations fell slightly, van Wageningen said.

He added that diesel tanks at inland locations were full.

Jet kerosene was the only product to register a fall in stocks over the week, down 1.4pc at 781,000 tonnes, as demand was firm and imports were limited, van Wageningen said.
Source: Reuters

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