By Anthony Harrup
U.S. crude-oil inventories likely fell for a second consecutive week, while gasoline stocks are seen slightly higher as refineries increased their capacity use, according to a survey by The Wall Street Journal.
Commercial crude stocks probably fell by 1.2 million barrels to 427.2 million barrels in the week ended Nov. 29, according to the average estimate of nine analysts and traders. Seven expect a decline and two predict an increase, with estimates ranging from a build of 2.6 million barrels to a withdrawal of 3 million barrels.
Gasoline inventories are expected to have risen by 200,000 barrels to 212.4 million barrels, according to the survey. Estimates range from an increase of 3.7 million barrels to a decrease of 3.1 million barrels.
Stocks of distillate fuels, mostly diesel, are forecast to be down by 100,000 barrels at 114.6 million barrels. Forecasts range from a 3 million-barrel increase to a 3 million-barrel withdrawal.
Refinery capacity use likely rose by two-fifths of a percentage point to 90.9%, with estimates ranging from unchanged to an increase of 0.9 of a percentage point. Two analysts didn't forecast refinery runs.
The inventory data from the Energy Information Administration are scheduled for release Wednesday at 10:30 a.m. EST.
Crude Gasoline Distillates Refinery Use
Again Capital 2.6 -1.4 -1.9 0.8
Confluence Investment Management 1.0 3.0 3.0 0.2
Rystad Energy -1.8 -1.6 2.1 0.9
Excel Futures -2.1 -0.7 -1.8 0.4
Spartan Capital Securities -1.6 -3.1 -1.4 n/f
Mizuho -1.0 2.0 1.0 0.5
Price Futures Group -3.0 -2.0 -3.0 unch
Ritterbusch and Associates -2.3 3.7 2.4 0.2
Tradition Energy -3.0 2.0 -1.0 n/f
AVERAGE -1.2 0.2 -0.1 0.4
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
12-03-24 1255ET
