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What to Watch: US Gas and EU Oil Product Stocks

ENERGY
  • The latest EIA weekly gas inventories for the week ending 27 Jan will be released this afternoon at 15:30GMT. The expectation is for a draw of -145bcf following on from the draw of -91bcf last week. The 5-year average for this time of year is -174bcf.
  • The updated Insights Global European ARA product inventories will be released today. The recovery in Gasoil stocks stalled last week with stocks holding at 2.184m mt compared to the 5-year average for this time of year of 2.42m mt. ARA Gasoline stocks were last week up at 1.417m mt compared to an average of 1.17m mt for this time of year.
  • The ECB (14:15 CET) and Bank of England (12:00 GMT) meetings take place today and both central banks are expected to hike rates 50 basis points.

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