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Focus on US and European inventories

ENERGY

Energy – what to watch

  • The API reported more refined product draws last night helping to drive gasoline and diesel markets higher ahead of the release of the EIA weekly inventory data at 15:30 this afternoon. Expectation is for the EIA to report a -2m draw in crude and a further draw in gasoline.
  • The latest Genscape European ARA crude inventories will be released today at 09:00BST. Stocks had an unexpected fall last week to 52.73mbbls taking inventories below the 5-year range. Stocks had been gradually increasing since the start of March in line with seasonal expectations.

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