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What to Watch

ENERGY
  • The latest EIA weekly gas inventories for the week ending 28 Jul will be released this afternoon at 15:30BST. The expectation is for a build of +18bcf compared to a build of +16bcf last week and the seasonal normal of +40bcf.
  • The updated Insights Global European ARA product inventories will be released today. Gasoil stocks were last week holding below normal at 2.05m mt compared to the five year average of 2.33m mt. ARA Gasoline stocks were last week above the previous five year range up at 1.35m mt compared to the five year average of 1.15m mt for this time of year.
  • The BOE rate decision is due today at 12:00 BST with a rate hike of 25 basis points expected.

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