Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
ENERGY -What to watch
• The latest EIA weekly gas inventories for the week ending 1st July will be released this afternoon at 15:30BST. Expectation is for a build of 75bcf after the larger 82bcf build last week. The average build for this time of year is 74bcf. Inventories have been reported higher than expected in the last couple of weeks with lower LNG exports leaving more gas potentially available to inject.
• EIA will release their weekly oil inventory data at 16:00 this afternoon after the API reported a build in crude stockpiles and draws in the refined products last night. Inventories of crude, gasoline and distillates are still below normal and therefore adding support market prices. Confirmation of product draws could help to ease the recent bearish trend in crack spreads although weaker implied demand could push them lower. Expectation is for the EIA to report a -0.7m draw in gasoline and +1m build in distillates.
• Insights Global will update the European oil product data with last week’s data showing Gasoil inventories (incl. heating oil and diesel) in the ARA region at just 1.52m mt compared to a 5-year average of 2.59m mt.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.