By Anthony Harrup
U.S. crude oil inventories likely fell for a fourth consecutive week as the conflict in the Middle East drives export demand and refineries maintain a high rate of capacity use, according to a survey by The Wall Street Journal.
Commercial crude oil stocks are seen falling by 3 million barrels to 449.9 million barrels in the week ended May 15, according to the average estimate of nine analysts and traders. Estimates range from a decline of 1 million barrels to a drop of 4.9 million barrels.
The decline in gasoline inventories is seen extending to a 14th consecutive week, with stocks expected to be down by 2.7 million barrels at 213 million barrels. Estimates range from a 1 million barrel decrease to a 5.1 million barrel decline.
Stocks of distillate fuel, mostly diesel, are forecast to have fallen by 1.2 million barrels to 101.3 million barrels, according to the survey. Forecasts range from a 2.1 million barrel drop to a 500,000 barrel build.
Refinery capacity use likely increased by 0.6 of a percentage point to 92.3%, with estimates ranging from a 1.5 percentage point rise to a 1 percentage point decrease. Two analysts didn't forecast refinery runs.
The U.S. Energy Information Administration is scheduled for release the inventory data on Wednesday at 10:30 a.m. EDT.
Crude Gasoline Distillates Refinery Use
Again Capital -1.8 -2.1 -1.3 0.6
Confluence Investment Management -1.0 -1.0 0.5 1.5
Rystad Energy -4.7 -2.2 -1.0 1.3
Excel Futures -4.4 -4.6 -2.0 0.8
Spartan Capital Securities -3.1 -1.4 0.5 n/f
Mizuho -3.0 -4.0 -2.0 0.5
Price Futures Group -2.0 -2.0 -2.0 -1.0
Ritterbusch and Associates -2.0 -1.8 -1.5 0.6
Tradition Energy -4.9 -5.1 -2.1 n/f
AVERAGE -3.0 -2.7 -1.2 0.6
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 Anthony Harrup at anthony.harrup@wsj.com
(END) Dow Jones Newswires
05-19-26 1209ET
