OIL MKT DRIVERS: U.S. Inventories, China Demand, Trump Talks

By Alex Longley

(Bloomberg) —┬áSummary of what’s shaping oil market on Tuesday: API data on U.S. inventories due later. Chinese apparent oil demand rose last month, according to data compiled by Bloomberg. President Trump due to have talks with France’s Emmanuel Macron. U.S. INVENTORIES:


* API weekly inventory data due 4:30pm ET
* Crude stockpiles forecast -2.25m bbl, according to median of survey of 8 analysts compiled by Bloomberg before more definitive government data due on Wednesday

** Gasoline expected -2m bbl, distillates -1.45m bbl

HEADLINES:

* CHINA OIL DATA: Apparent demand rises; fuel exports at record

** READ: Record Chinese Fuel Exports Rattle World’s Top Oil Buyers

* Iran draws down crude from floating storage: tanker tracking
* Saudis said to delay exchange IPO on MSCI valuation hopes
* French President Emmanuel Macron due to have talks with President Trump as market focus remains on issue of Iran sanctions

** READ: Macron Lands in U.S. to Fanfare Ahead of Tough Talks With Trump

To contact the reporter on this story:
Alex Longley in London at alongley@bloomberg.net

To contact the editors responsible for this story:
Alaric Nightingale at anightingal1@bloomberg.net
John Deane, Rachel Graham