By Anthony Harrup
U.S. crude oil inventories likely rose last week, while gasoline stocks are expected to have extended their decline, according to a survey by The Wall Street Journal.
Commercial crude oil stocks are seen rising by 600,000 barrels to 462.2 million barrels in the week ended April 3, according to the average estimate of nine analysts and traders. That would mark a seventh consecutive week of crude stock builds.
Four analysts expect an increase and five predict a decline, with forecasts ranging from a build of 4.8 million barrels to a draw of 2 million barrels.
Gasoline inventories are seen falling by 1.9 million barrels to 239 million barrels, extending their slide to eight weeks, with estimates ranging from a 1 million barrel decline to a 3.1 million barrel decline.
Stocks of distillate fuel, mostly diesel, are expected to be down by 800,000 barrels at 117 million barrels. Forecasts range from a rise of 2.1 million barrels to a drop of 2.7 million barrels.
Refinery capacity use likely rose by half of a percentage point to 92.6%, with estimates ranging from a 1.2 percentage point increase to a half percentage point decline. Two analysts didn't forecast refinery runs.
The U.S. Energy Information Administration is scheduled to release the inventory data on Wednesday at 10:30 a.m. EDT.
Crude Gasoline Distillates Refinery Use
Again Capital 2.4 -1.6 -2.7 0.8
Confluence Investment Management 2.0 -1.5 -1.5 -0.5
Rystad Energy -1.7 -1.1 1.6 1.2
Excel Futures 4.8 -1.7 -2.4 0.7
Spartan Capital Securities -1.6 -3.1 1.3 n/f
Mizuho -1.0 -1.0 -1.0 1.0
Price Futures Group -2.0 -2.0 -2.0 unch
Ritterbusch and Associates -1.5 -2.0 -2.7 0.3
Tradition Energy 3.9 -3.1 2.1 n/f
AVERAGE 0.6 -1.9 -0.8 0.5
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
04-07-26 1143ET
