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What to Watch: IEA, WTI Option Expiry, ARA Stocks, EIA Gas, BOE and ECB

ENERGY
  • WTI Jan24 Option Expiry – Thu 14 December 23 at 14:30 ET close. A total of 605mbbls of open January 24 options positions on CME and ICE are due to expire against the January future close tomorrow. Current aggregate open interest is 350k call contracts and 256k puts.
  • The IEA Monthly Oil Market Report is due for release today at 10:00 CET providing an outlook for crude oil market developments for the coming year.
  • The ARA Insights Global oil products stockpiles are due to be released this afternoon. Product stocks in the region declined last week.
  • The EIA weekly US natural gas inventory report is due for release today at 10:30 ET. A Bloomberg survey suggests a draw of -55.91 bcf/d, after the first large draw this winter in the previous week.
  • The BOE rate decision is expected at 12:00GMT and the ECB rate decision is due to be announced at 14:15 CET.

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