By Paulo Trevisani
U.S. crude-oil inventories are expected to have increased slightly from the previous week in data from the Energy Department due Wednesday, according to a survey by The Wall Street Journal.
Commercial crude stockpiles rose by 400,000 barrels for the week ended Oct. 13, in the average of estimates from ten analysts and traders. Four of the forecasters are predicting a decrease, while six are expecting an increase. Expectations range from a decrease of 4 million barrels to an increase of 5 million barrels.
The closely watched inventory data from the DOE’s Energy Information Administration is scheduled for release at 10:30 a.m. EDT Wednesday.
Gasoline inventories are expected to decline by 600,000 barrels, according to the survey. Estimates range from a decrease of 3.4 million barrels to an increase of 1.7 million barrels.
Stocks of distillates, which are mostly diesel fuel, are expected to decrease by 1.2 million barrels. Forecasts range from a decrease of 3 million barrels to an increase of 1.1 million barrels.
Refinery use likely fell by 0.1 percentage point, to 85.6%. Forecasts range from a decrease of 1 percentage point to an increase of 1 percentage point. One analyst didn’t make a forecast.
Crude Gasoline Distillates Refinery Use Again Capital -2.9 1.7 1.1 -0.4 Commodity Research Group 1.8 0.8 -0.4 0.8 Confluence Investment Management -3 -2.5 -2 1 DTN 1.4 -0.25 -1.2 unch Excel Futures 3.6 -3.4 -2 -0.6 Spartan Capital Securities 1.4 -1.6 -2.5 n/f Mizuho 3 1 -1 -0.7 Price Futures Group -4 -1 -1 0.5 Ritterbusch and Associates -2.2 -2.6 -3.0 -1.0 Tradition Energy 5 1.5 0.3 n/f AVERAGE 0.4 -0.6 -1.2 -0.1
Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.
n/f = no forecast
unch = unchanged
Write to Paulo Trevisani at [email protected]
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