By Anthony Harrup
U.S. crude oil inventories likely rose moderately last week with refineries maintaining their level of capacity use, according to a survey by The Wall Street Journal.
Commercial crude stockpiles are expected to have increased by 1 million barrels, to 427 million barrels, in the week ended Oct. 25, according to the average estimate of 10 analysts and traders. Seven expect an increase and three predict a decline. Expectations range from a stock build of 3 million barrels to a withdrawal of 2 million barrels.
Gasoline inventories are seen unchanged at 213.6 million barrels, with estimates ranging from an increase of 3.6 million barrels to a decrease of 3.5 million barrels.
Stocks of distillate fuels, mostly diesel, are expected to be down by 1.3 million barrels at 112.5 million barrels in a sixth consecutive weekly decline. Estimates for distillates range from a 900,000-barrel increase to a draw of 2 million barrels.
Refinery capacity use is projected to remain unchanged at 89.5%, with forecasts ranging from an increase of 0.8 percentage point to a decrease of 0.8 percentage point. Two analysts didn't forecast refinery runs.
The inventory data from the U.S. Energy Information Administration is scheduled for release Wednesday at 10:30 a.m. EDT.
Crude Gasoline Distillates Refinery Use
Again Capital 1.6 1.1 -1.7 -0.8
Commodity Research Group 0.8 0.2 0.9 0.2
Confluence Investment Management 3.0 1.0 -2.0 -0.5
Rystad Energy 1.6 3.6 -0.9 0.8
Excel Futures 2.8 1.5 -0.9 0.6
Spartan Capital Securities -1.6 1.0 -1.8 n/f
Mizuho 2.0 -1.0 -1.0 -0.5
Price Futures Group -2.0 -2.0 -2.0 unch
Ritterbusch and Associates 3.0 -1.5 -1.7 0.4
Tradition Energy -1.0 -3.5 -2.0 n/f
AVERAGE 1.0 unch -1.3 unch
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
10-29-24 1306ET
