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What to Watch

ENERGY
  • European Commission President Ursula Von der Leyen will address the European Parliament today to unveil a legislative proposal to deal with the energy crisis.
  • The monthly IEA oil market report is due for release at 10:00 CET following the recent EIA and OPEC monthly reports.
  • The latest Genscape European ARA crude inventories will be released today at 09:00BST. Stocks were still below normal last week at 50.6mbbls. The average for this time of year is approximately 53.80mbbls.
  • The updated weekly EIA petroleum inventory data will be released this afternoon at 15:30BST. Expectation is for the EIA to report build in crude and small draws in the refined products although the API data last night showed a big build in crude and build in distillates.

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