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What to Watch: EIA Gas Stocks and OPEC MOMR

  • The latest EIA weekly gas inventories for the week ending 7 Apr will be released this afternoon at 15:30GMT. The expectation is for the first build of the year of +28bcf following on from the -23bcf draw last week. The 5-year average for this time of year is a build of +16bcf.
  • The updated OPEC Monthly Oil Market Report will be released at 13:00CET. The report covers the major supply and demand issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. The IEA monthly report is due for release tomorrow.
  • The updated Insights Global European ARA product inventories will be released today. Gasoil stocks showed a counter seasonal increase last week to hold above average at 2.387m mt compared to the 5-year average for this time of year of 2.19m mt. ARA Gasoline stocks were last week up at 1.396m mt compared to an average of 1.19m mt for this time of year.

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