Crude inventories are expected today at 10:30 AM EST. For the week ending January 1, U.S. commercial crude oil inventories had increased by 1.3 million barrels from the previous week to 327.3 million barrels and were above the upper limit of the average range for that time of year. U.S. crude oil refinery inputs averaged 13.8 million barrels per day during this period, 87 thousand barrels per day above the previous week’s average. U.S. crude oil imports were averaging 8.4 million barrels per day, up 328 thousand barrels per day from the previous week.
Today at 2:00 PM EST, the Department of Treasury will release the balance of the Treasury Budget for December, with an anticipated deficit of $62.2 billion, following the reported $120.3 billion deficit in November.
Today the Fed’s Beige Book is also scheduled for release at 2:00 PM EST, which will be the topic of discussion for the 2 day meeting of the Federal Open Market Committee board of governors, which will commence on January 26th. The FOMC Policy Statement will be released upon conclusion of the meeting at 2:15 PM EST on January 27th where decisions on interest rate targets will be addressed
Upcoming Releases
Crude Inventories (01/13 at 10:30 AM EST)
Fed’s Beige Book (01/13 at 2:00 PM EST)
Treasury Budget (01/13 at 2:00 PM EST)
Business Inventories (01/14 at 10:00 AM EST)
