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What to Watch: US Gas Stocks, ARA Product Stocks & US Rig Counts

ENERGY
  • The EIA weekly gas inventories for the week ending Mar. 22 will be released this afternoon at 10:30 ET (14:30GMT). The expectation is for a draw of 28bcf according to a Bloomberg survey following a small build of 7bcf the previous week. The seasonal normal is a draw of around 30bcf.
  • The updated Insights Global European ARA product inventories will be released today around 15:15GMT. Gasoil stocks were last week at 2.046m and just below the five year average of 2.19m mt. ARA Gasoline stocks last week held near normal at 1.242m mt.
  • The latest Baker Hughes rig count data is due for release a day early at 13:00ET. The US oil rig count was last week at 509 after gaining during March while the gas rig count fell to the lowest since Jan 2022 at 112.

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