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What to Watch

  • The updated EIA Short Term Energy Outlook is due for release at 10:00 ET today with updates to supply and demand forecasts for oil, gas, and power markets. The OPEC Monthly Oil Market Report and IEA Oil Market Report due out on Thursday. The reports will provide outlooks for oil market developments for the coming year as the market looks for certainty over global supply and demand.
  • 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 draw in crude stocks as the market looks for signs of tightening while a draw in distillates and gasoline stocks provided support to product markets.

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