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What to Watch

ENERGY
  • The day delayed EIA weekly gas inventories for the week ending 30 Jun will be released this afternoon at 15:30BST. The expectation is for a build of +65bcf compared to a build of +76bcf last week and the seasonal normal of +74bcf.
  • The latest Baker Hughes rig count data is due for release at 13:00ET. The oil and gas rig count data continues to trend lower with oil down to 545 last week and gas rigs falling to 124.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30BST and 15:30EST. Crude managed money net long positions last week fell to the lowest since 2012 although ICE Gasoil has recovered from a net short to small net long position in recent weeks.
  • US nonfarm payrolls are due to release at 08:30 ET.

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