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What to Watch: US Gas Stocks,EU Oil Product Stocks & US CPI

ENERGY
  • The EIA weekly gas inventories for the week to Jan 5 will be released this afternoon at 10:30 ET (15:30 GMT). The expectation is for a draw of -122bcf according to a Bloomberg survey compared to the seasonal normal draw of -160bcf and the draw of just -14bcf the previous week.
  • The updated Insights Global European ARA product inventories will be released today. Gasoil stocks were last week at the low end of the five year range at 1787m mt compared to the five year average of 2.21m mt. ARA Gasoline stocks were last week below normal at 0.890m mt after falling during December and compared to the seasonal average of 1.22m mt.
  • The US CPI data due at 08:30 ET with consensus for core CPI inflation at 0.3% m/m in December, with risk seen to the downside.

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