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What to Watch: EU Oil Product and US Gas Stocks

ENERGY
  • The updated Insights Global European ARA product inventories will be released today. ARA Gasoil stocks were well below normal at 1.814m mt last week despite gradually building since the end of August. The 5-year average for this time of year is approximately 2.61m mt. ARA Gasoline stocks were last week up at 1.27m mt compared to an average of 0.99m mt for this time of year.
  • The latest EIA weekly gas inventories for the week ending Sep 30 will be released this afternoon at 15:30BST. Total US stocks are still 8% below the 5-year average despite building in recent weeks. The expectation is for another strong build of 115bcf due to high production and slightly lower domestic and LNG export demand. Last week saw a build of +103bcf and the 5-year average for this time of year is +83bcf.

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