Also known as: Amsterdam-Rotterdam-Antwerp

ARA refers to the ports of Amsterdam, Rotterdam, and Antwerp in the Northwest Europe refining hub market.

Spot transactions for refined products in these ports are commonly used as indicators for the Northwest Europe market overall, and are thus called "ARA basis."

These ports are used as a reference because they all have deep, active trading markets and are close enough to each other to be considered interchangeable.

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