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What to Watch: Oil Inventories & WTI Option Expiry

ENERGY
  • The latest Genscape European ARA crude inventories will be released today at 09:00BST. Inventories held below normal last week at 54.79mbbls having followed the seasonal trend higher in April. The average for this time of year is 56.02mbbls.
  • The EIA weekly petroleum inventory data is due for release this afternoon at 15:30BST. US inventories of crude, gasoline and distillates are expected to show small draws this week with an increase in refinery utilisation according to a Bloomberg survey.
  • The May23 WTI options expire against the 19:30BST futures close price today. Current open interest shows the biggest nearby strike of interest just below the current market at 70$/bbl.

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