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What to Watch

ENERGY
  • The updated Insights Global European ARA product inventories will be released today. Gasoil stocks were above average at 2.534m mt last week compared to the 5-year average for this time of year of 2.36m mt. ARA Gasoline stocks were last week up at 1.436m mt compared to an average of 1.24m mt for this time of year.
  • The latest EIA weekly gas inventories for the week ending 17 Feb will be released this afternoon at 15:30GMT. The expectation is for a draw of -64bcf following on from the -100bcf draw last week. The 5-year average for this time of year is -164bcf.
  • The day delayed EIA weekly petroleum inventory data is due for release this afternoon at 16:00GMT. Expectation is for crude to build once again with little change expected in refinery runs rates after the fall last week.
  • The Apr23 Brent options expire against the 19:30GMT future close price today. Current open positions show a big volume of put interest at the 80$/bbl strike price.

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