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What to Watch

  • The latest EIA weekly gas inventories for the week ending 12 May will be released this afternoon at 15:30BST. The expectation is for a larger than normal build of +108bcf compared to last week at +78cf and the 5-year average for this time of year is +95bcf.
  • The updated Insights Global European ARA product inventories will be released today. Gasoil stocks surged higher last week up to 2.488m mt. The 5-year average for this time of year is 2.19m mt. ARA Gasoline stocks are also up at the top of the five year range at 1.427m mt compared to the five year average of 1.15m mt for this time of year.
  • The update to the JODI world oil database is also due today giving the latest data regarding both global supply and demand amid high market uncertainty.

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