By Dan Molinsky
U.S. commercial crude oil inventories are expected to have risen from a week earlier in data due Wednesday from the 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 were expected to rise by 1.3 million barrels for the week ending September 30, with just two analysts forecasting a decline and nine forecasting an increase. Forecasts range from a drop of 3 million barrels to an increase of 4.7 million barrels.
The closely watched investigation by the DOE’s Energy Information Administration is expected to be released at 10:30 a.m. ET Wednesday.
Gasoline inventories are expected to decline by 1 million barrels from the previous week, analysts said. Estimates range from a decrease of 2.5 million barrels to an increase of 1.4 million barrels.
Distillate inventories, which include fuel oil and diesel, are expected to fall 1.4 million barrels from the previous week. Forecasts range from a decline of 3.1 million barrels to an increase of 1.2 million barrels.
Refinery utilization likely fell 0.4 percentage points from the previous week to 90.2%. Forecasts range from a decrease of 1.3 percentage points to an increase of 0.4 percentage points. Two analysts did not make forecasts.
Refinery Crude Gasoline Distillates Use Again Capital 1.8 -2.3 -1.4 0.4 Citi Futures 2.5 -1 -1.5 unch Commodity Research Group 4.7 -1.1 1.2 -1.3 Confluence Investment Management 2.5 0.5 -1.5 -1 DTN 2.1 -1.8 0.5 -0.5 Excel Futures 1.8 -2.3 -3.1 -0.6 Spartan Capital Securities -0.8 1.4 -2.9 n/f Mizuho 1 -1 -1 -0.5 Price Futures Group -3 -2.5 -3 unch Ritterbusch and Associates 1.5 0.7 -1.3 -0.5 Tradition Energy 0.2 -2 -1.5 n/f AVERAGE 1.3 -1.0 -1.4 -0.4
n/f = no forecast
unch = unchanged
Note: Figures in millions of barrels, except for refinery use, which is in percentage points.
Write to Dan Molinski at [email protected]
(Adds API data)
By Dan Molinski
U.S. commercial crude-oil stockpiles are expected to have risen from the previous week in data due Wednesday from the 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 increased by 1.3 million barrels for the week ended Sept. 30, with just two analysts forecasting a decline and nine predicting an increase. Forecasts range from a decrease of 3 million barrels to an increase of 4.7 million barrels.
The closely watched survey from the DOE’s Energy Information Administration is scheduled for release at 10:30 a.m. EDT Wednesday.
Gasoline stockpiles are expected to decrease by 1 million barrels from the previous week, according to analysts. Estimates range from a decrease of 2.5 million barrels to an increase of 1.4 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to fall by 1.4 million barrels from the previous week. Forecasts range from a decrease of 3.1 million barrels to an increase of 1.2 million barrels.
Refinery use likely declined by 0.4 percentage point from the previous week to 90.2%. Forecasts range from a 1.3 percentage-point decrease to a 0.4 percentage-point increase. Two analysts didn’t make a forecast.
The American Petroleum Institute, an industry group, said late Tuesday its data for the week showed a 1.8 million-barrel decrease in crude supplies, a 3.5 million-barrel fall in gasoline stocks and a 4 million-barrel drop in distillate inventories, according to a source.
Refinery Crude Gasoline Distillates Use Again Capital 1.8 -2.3 -1.4 0.4 Citi Futures 2.5 -1 -1.5 unch Commodity Research Group 4.7 -1.1 1.2 -1.3 Confluence Investment Management 2.5 0.5 -1.5 -1 DTN 2.1 -1.8 0.5 -0.5 Excel Futures 1.8 -2.3 -3.1 -0.6 Spartan Capital Securities -0.8 1.4 -2.9 n/f Mizuho 1 -1 -1 -0.5 Price Futures Group -3 -2.5 -3 unch Ritterbusch and Associates 1.5 0.7 -1.3 -0.5 Tradition Energy 0.2 -2 -1.5 n/f AVERAGE 1.3 -1.0 -1.4 -0.4
n/f = no forecast
unch = unchanged
Note: Figures in millions of barrels, except for refinery use, which is in percentage points.
Write to Dan Molinski at [email protected]