EU ENERGY SECTOR: What to Watch: FOMC and Oil Inventory Data
May-03 07:28By: David Lee
- The latest Genscape European ARA crude inventories will be released today at 09:00GMT. A decline last week took stocks below the five year range to 52.78mbbls. The average for this time of year is 57.53mbbls.
- The EIA weekly petroleum inventory data is due for release this afternoon at 15:30GMT. US inventories of crude, gasoline and distillates are expected to show small draws this week with another increase in refinery utilisation also expected according to a Bloomberg survey.
- The US Fed rate decision is expected at 19:00 GMT. The central bank is expected to hike rates another 25bp and possibly signal that it will then pause.
