U.S. Crude Oil Inventories Update

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According to a survey by The Wall Street Journal, U.S. crude-oil inventories are anticipated to have grown for a fourth consecutive week. Meanwhile, stocks of gasoline and distillate fuels are likely to have decreased.

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Commercial Crude Stockpiles

Commercial crude stockpiles are predicted to rise by 3.2 million barrels to 442.7 million barrels. Nine out of ten analysts and traders expect an increase, with estimates ranging from a withdrawal of 2.5 million barrels to a build of 5.9 million barrels.

Gasoline and Distillates

Gasoline inventories are projected to have dropped by 2.1 million barrels to 245.2 million barrels, while stocks of distillates, mainly diesel fuel, are forecasted to decrease by 1.4 million barrels to 124.3 million barrels.

Refinery Capacity Use

Refinery capacity use is likely to have increased by 0.8 percentage points to 81.4%. Estimates range from a 3.4 percentage point increase to a 0.6 percentage point decrease. The U.S. Energy Information Administration is set to release the inventory data at 11 a.m. ET Thursday.

Crude Gasoline Distillates Refinery Use

  • Again Capital: 2.3 -1.7 -1.4 0.8
  • Commodity Research Group: 3.5 -2.2 -2.6 0.5
  • Confluence Investment Management: 5.5 -4.5 -3.0 2.5
  • DTN: 3.2 -2.1 -1.5 -0.3
  • Excel Futures: 5.9 -3.9 -2.2 -0.6
  • Spartan Capital Securities: 1.1 -2.7 -3.6 n/f
  • Mizuho: 4.0 -2.0 -2.0 -0.6
  • Price Futures Group: 3.0 -3.0 2.0 0.5
  • Ritterbusch and Associates: -2.5 3.8 3.2 3.4
  • Tradition Energy: 5.5 -3.1 -3.0 n/f

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.

n/f = no forecast

unch = unchanged

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