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Energy Market Preview

25.04.2007 13:13 Wednesday

- The EIA releases its weekly inventory data today at 10:30a.m. According to a widely followed wire survey, crude inventories are expected to have fallen 1.5M barrels last week, gasoline inventories to have declined by 500K and distillate inventories to have risen by 500K barrels. - According to Fimat, demand growth for transportation fuel in the US may start to decline as the country starts to buy fewer goods from overseas, as indicated by container volumes at US ports which fell to a 13-month low in March. - In an extremely quiet night on the energy front crude oil futures are trading higher in the session on supply concerns ahead of today's inventory data. - On the weather front, Accuweather wrote on its website that while snow from a potent storm has come to an end across the Colorado Rockies, the storm will once again be the culprit for potentially deadly severe weather today. Intense thunderstorms and some tornadoes will fire from the lower Ohio Valley and eastern Kansas to East Texas. The storm will bring the end to the recent pleasant weather across the Northeast, but will do little to quell the fire danger over the Southeast.