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What to Watch: Stock Data and Brent Option Expiry


What to watch

  • The updated Insights European product ARA inventories will be released today. Low stock levels and tight supply are keeping diesel spreads high. Europe Gasoil stocks were at 1.513m mt last week compared to the 5-year average of 2.578m mt for this time of year.
  • The latest EIA weekly gas inventories for the week ending 19th July will be released this afternoon at 15:30BST. Expectation is for a build of 55bcf after the smaller than expected 18bcf build last week. The average build for this time of year is 48bcf.
  • Also due today is the Oct22 Brent option expiry against the 19:30BST future close price. Current open interest shows the biggest nearby interest is in the 100$/bbl strike.

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