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ENERGY: What to Watch: IEA Oil Report, EIA Gas Stocks and ARA Oil Product Stocks

ENERGY
  • IEA are due to release the updated Oil Market Report at 10:00 CET following the downward demand revision shown by the OPEC MOMR yesterday.
  • The EIA weekly gas inventories for the week ending Dec. 6 will be released this afternoon at 10:30 ET (15:30GMT). The expectation is for a draw of 167bcf according to a Bloomberg survey following a draw of 30bcf the previous week. The seasonal five year average shows a net withdrawal of around 71bcf.
  • The updated Insights Global European ARA product inventories will be released today around 15:15GMT. Gasoil stocks fell last week to 2.13m mt while ARA Gasoline stocks rose to 1.30m mt with both above normal.

 

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