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What to Watch: JMMC, EIA Gas Stocks, ARA Product Stocks

ENERGY
  • The Joint Ministerial Monitoring Committee (JMMC) hold a virtual meeting today around 13:00 CET as the market looks for any OPEC+ commentary on indications of future production policy.
  • The latest EIA weekly gas inventories for the week ending 26 Jan will be released this afternoon at 15:30GMT. The expectation is for a draw of -208bcf according to a Bloomberg survey after the large draw of -326bcf last week. The seasonal normal is a draw of -184bcf.
  • The updated Insights Global European ARA product inventories will be released today around 15:15 GMT. Gasoil stocks were last week below normal at 1.695m mt compared to the five year average of 2.26m mt. ARA Gasoline stocks were at 0.84m mt compared to the average of 1.24m mt for this time of year.

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