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What to Watch: US Gas and EU Oil Product Stocks & BOE

  • The latest EIA weekly gas inventories for the week ending 15 Sep will be released this afternoon at 15:30BST. The expectation is for a build of +64bcf according to a Bloomberg survey compared to a build of +57bcf last week and the seasonal normal of +89bcf.
  • The updated Insights Global European ARA product inventories will be released today. Gasoil stocks were last week holding below normal at 1.90m mt compared to the five year average of 2.47m mt. ARA Gasoline stocks were last week above the five year range high at 1.415m mt compared to the average of 1.06m mt for this time of year.
  • The Bank of England rate decision is due today at 12:00 BST with the majority of sell side analysts looking for a hike although with notable caveats to their calls post-inflation data.

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