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What to Watch: US Gas Stocks and Brent Option Expiry

ENERGY
  • The latest EIA weekly gas inventories for the week ending 19 May will be released this afternoon at 15:30BST. The expectation is for a larger than normal build of +100bcf compared to last week at +99cf and the 5-year average for this time of year is +86bcf.
  • The Jul23 Brent options expire against the futures close price today with the largest nearby exposures at the 75$/bbl and 80$/bbl strikes.
  • The updated Insights Global European ARA product inventories will be released today. Gasoil maintained at the higher end of the five year range last week up at 2.503m mt. The 5-year average for this time of year is 2.15m mt. ARA Gasoline stocks are also up at the top of the five year range at 1.38m mt compared to the five year average of 1.10m mt for this time of year.

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