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What to Watch: EIA Gas Stocks, ARA Product Stocks and ECB

ENERGY
  • The latest EIA weekly gas inventories for the week ending 19 Jan will be released this afternoon at 15:30GMT. The expectation is for a large draw of -319bcf according to a Bloomberg survey after the cold US weather last week. Data last week showed a draw of -154bcf and the seasonal normal is -149bcf.
  • The updated Insights Global European ARA product inventories will be released today. Gasoil stocks were last week below normal at 1.843m mt despite compared to the five year average of 2.24m mt. ARA Gasoline stocks were below the five year range at 0.875m mt compared to the average of 1.24m mt for this time of year.
  • The ECB rate decision is due to be announced at 14:15 CET with no changes in policy rates expected or priced in.

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