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What to Watch: EIA Oil and Gas, Genscape and Rig Count

ENERGY
  • The latest Genscape European ARA crude inventories will be released today at 09:00GMT. Data last week showed stocks up to 51.65mbbls but still below the five year average of 55.49mbbls.
  • EIA weekly petroleum inventory data for the week to Nov 17 is due for release this afternoon at 10:30 ET (15:30GMT). EIA data is expected to show a small crude inventory build and small gasoline and distillates stock draws with an increase in refinery utilisation according to a Bloomberg survey.
  • The latest EIA weekly gas inventories for the week ending Nov 17 will be released this afternoon at 12:00 ET (17:00 GMT), a day early due to the Thanksgiving holiday tomorrow. The expectation is for a slight build of +1bcf according to a Bloomberg survey compared to a build of +60bcf last week and the seasonal normal of a -50bcf draw.
  • The latest Baker Hughes rig count data is due for release at 13:00ET due to the US holiday this week. The US oil rig count was last week back up slightly to 500 while the gas rig count was down at 114.


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