By Dan Molinski

 

U.S. crude-oil stockpiles are unanimously expected to have decreased last week from the previous week in data due Wednesday from the U.S. Energy Department, according to a survey of analysts and traders by The Wall Street Journal.

Estimates from 11 analysts and traders showed U.S. oil inventories are projected to have fallen by 2.4 million barrels in the week ended Sept. 17, with forecasts ranging from decreases of 500,000 barrels to 4.7 million barrels.

The closely watched survey from the DOE’s Energy Information Administration is scheduled for release at 10:30 a.m. ET Wednesday.

Gasoline stockpiles are expected to fall by 1 million barrels from the previous week, according to analysts. Estimates range from a decrease of 5 million barrels to an increase of 2.5 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to fall 900,000 barrels from the previous week. Forecasts range from a decrease of 4 million barrels to an increase of 1.9 million barrels.

Refinery use likely rose by 1.8 percentage points to 83.9% of capacity. Forecasts range from a decline of 3 percentage points to an increase of 3.9 percentage points. Two analysts didn’t make a forecast.

Refinery Crude Gasoline Distillates Use Again Capital -2.8 -1.6 -1.1 1.9 Citi Futures -4.5 -2.5 -1.5 2.5 Commodity Research Group -4.4 -0.6 -1.8 3.6 Confluence Investment Management -1 2.5 1 2.5 DTN -1.8 1.1 -0.8 3.5 Excel Futures -1.9 -1.5 -0.9 -0.5 Spartan Capital Securities -1.2 -1.6 1.9 n/f Mizuho -2 -1 -1 2 Price Futures Group -4.7 -5 -4 -3 Ritterbusch and Associates -0.5 -1.0 -1.0 3.9 Tradition Energy -2 0.3 -0.3 n/f AVERAGE -2.4 -1.0 -0.9 1.8

Note: Figures in millions of barrels, except refinery use, which is percentage points.

n / f = no forecast


Write to Dan Molinski at [email protected]

Leave a Reply

Your email address will not be published.