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US and Europe Oil Inventories to be Updated

ENERGY

Energy – what to watch

  • API data last night showed builds in US stocks of both crude and products. This could help to ease some of the bullish pressure on oil product markets if it is confirmed in the EIA weekly inventory data released today at 15:30. The expectation is for the EIA to report a -2.3m draw in crude and small builds in gasoline and distillate.
  • The latest Genscape European ARA crude inventories will be released today at 09:00BST. Stocks continued to build last week following the seasonal trend. European ARA inventories were in the middle of the 5-year range at 57.81mbbls.

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