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What to Watch: EU and US Inventory Data & Fed Meeting

ENERGY
  • The latest Genscape European ARA crude inventories will be released today at 09:00GMT. Stocks were last week up at 57.6mbbls and the average for this time of year is 54.6mbbls.
  • The EIA weekly petroleum inventory data is due for release this afternoon at 14:30GMT. API data last night showed a draw in crude and gasoline and a small build in distillates. The expectation is for the EIA data to show little change crude stocks and small product draws.
  • The US Fed is rate decision is expected at 18:00 GMT. The central bank is expected to raise rates by 75 basis points for the fourth time in a row.

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