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What to Watch

  • The latest EIA weekly gas inventories for the week ending 9 Jun will be released this afternoon at 15:30BST. The expectation is for a build of +94bcf in line with the seasonal normal of +96bcf. Last week showed a build of +104cf with another +14bcf injected to non-salt inventories and reclassified from working gas to base gas.
  • The updated Insights Global European ARA product inventories will be released today. Gasoil stocks were last week holding just above the five year average at 2.35m mt. ARA Gasoline stocks are still near the top of the five year range at 1.34m mt compared to the five year average of 1.22m mt for this time of year.
  • The ECB rate decision is due today at 14:15 CET with a rate hike of 25 basis points expected.

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