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What to Watch: US & EU Stock Data

  • The latest Genscape European ARA crude inventories will be released today at 09:00BST. Stocks were still below the 5 year range last week at 51.25mbbls. The average for this time of year is 57.15mbbls.
  • The EIA weekly petroleum inventory data is due for release this afternoon at 15:30BST. API data last night suggested a small build in crude and draws in both gasoline and distillates. Products draws could support diesel markets with supplies already tight and could be a sign of higher demand supporting gasoline spreads. Expectation is for the EIA to report a small draw in crude, gasoline, and distillates.
  • OPEC’s JTC meeting takes place today to review the market balances ahead of the OPEC+ meeting on Sep 5.

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