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What to Watch

ENERGY
  • The latest EIA weekly gas inventories for the week ending Nov 4 will be released this afternoon at 15:30GMT. The expectation is for another above normal build of +83bcf compared to +107bcf last week and the 5-year average for this time of year of +28bcf.
  • The updated Insights Global European ARA product inventories will be released today. ARA Gasoil stocks were at 1.723m mt last week with the 5-year average at 2.32m mt for this time of year. ARA Gasoline stocks were last week at 1.214m mt and the average for this time of year is 0.92m mt.
  • The US inflation data will be release at 13:30GMT
  • The latest Baker Hughes rig count data is due for release at 18:00GMT, a day early due to the US holiday tomorrow. The oil rig count has resumed the rising trend and was up to 613 last week. The gas rig count has been drifting lower in recent week down to 155 last week.

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