July 03, 2024 07:26 GMT
What to Watch: ARA Crude Stocks & US Oil and Gas Inventories
ENERGY
- The latest Genscape European ARA crude inventories will be released today at 09:00BST. Stocks fell last week to 54.9mbbls to remain below the previous five year average.
- The EIA weekly petroleum inventory data for the week ending June 28 is due for release today at 10:30ET (15:30BST). A Bloomberg survey expects a very small draw in U.S. crude stocks as well as small draws in both gasoline and distillates inventories while refinery utilisation regains some of last week’s decline.
- The EIA weekly gas inventories for the week ending Jun 28 will be released today at 12:00 ET (17:00BST), a day early due to the US holiday tomorrow. The expectation is for a build of 29bcf according to a Bloomberg survey following a build of 52bcf the previous week. The seasonal normal is a build of around 79bcf.
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