By Anthony Harrup
U.S. crude oil inventories likely fell for a second consecutive week with gasoline and distillate stocks extending their declines, according to a survey by The Wall Street Journal.
Commercial crude stocks are seen falling by 2.3 million barrels to 457.2 million barrels in the week ended May 1, according to the average estimate of seven analysts and traders. Six expect a decline and one predicts a rise. Expectations range from an increase of 1.5 million barrels to a drop of 4.4 million barrels.
Gasoline inventories are forecast to have fallen by 2.2 million barrels to 220.1 million barrels in a 12th straight weekly draw, with estimates ranging from an 800,000 barrel rise to a 4.8 million barrel decline.
Stocks of distillate fuel, mostly diesel, are estimated to be down by 1.9 million barrels at 101.7 million barrels, with forecasts ranging from a drop of 4.6 million barrels to an increase of 1.5 million barrels.
Refinery capacity use likely rose by 0.7 of a percentage point to 90.3%, according to the survey. Estimates range from a rise of 1.8 percentage points to a 1 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
Confluence Investment Management 1.5 0.8 -0.5 1.2
Rystad Energy -3.8 -2.2 -1.5 1.0
Excel Futures -4.4 -4.8 -4.6 1.8
Spartan Capital Securities -1.9 -2.8 1.5 n/f
Price Futures Group -3.0 -3.0 -3.0 -1.0
Ritterbusch and Associates -2.5 -1.2 -2.5 0.3
Tradition Energy -2.2 -2.1 -2.7 n/f
AVERAGE -2.3 -2.2 -1.9 0.7
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
05-05-26 1320ET
