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What to Watch

ENERGY
  • The API oil inventory data is due for release today at 16:30 ET ahead of the EIA weekly data tomorrow. The EIA data last week showed a build in crude and Cushing inventories while distillates stocks built and gasoline stocks drew with an increase in refinery runs.
  • The updated EIA Short Term Energy Outlook report will be released at 17:00BST with updates to supply and demand forecasts for oil, gas, and power markets. The OPEC and IEA monthly oil reports are due for release next week.
  • China May trade data is out tomorrow as the market watches for a slowing in export growth following the weaker official manufacturing PMI data.

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