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What to Watch: EIA STEO and US & EU Oil Inventories

ENERGY
  • The day delayed API oil inventory data is due for release today at 16:30 ET ahead of the EIA weekly data tomorrow. The EIA data last week showed a draw in crude with a small build at Cushing while gasoline built and distillates stocks drew with a fall in refinery utilisation.
  • The latest Genscape European ARA crude inventories will be released today at 09:00BST. Data last week showed a decline in stocks down below the five year range to 49.34mbbls and compared to the average of 54.87mbbls for this time of year.
  • The updated EIA Short Term Energy Outlook is due for release at 10:00 ET (17:00 BST) today with updates to supply and demand forecasts for oil, gas, and power markets. The IEA Oil Market Report and OPEC Monthly Oil Market Reports are due out tomorrow.

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