By Anthony Harrup
U.S. crude oil inventories likely rose last week, reversing some of the previous week's decline, according to a survey by The Wall Street Journal.
Commercial crude stockpiles are seen up by 800,000 barrels at 421.3 million barrels in the week ended Oct. 18, according to the average estimate of 10 analysts and traders. Seven expect an increase and three predict a decline, with estimates ranging from a build of 5.1 million barrels to a drop of 3 million barrels.
Gasoline inventories are expected to have declined for a third consecutive week, falling by 1.3 million barrels to 211.4 million barrels. Estimates range from a withdrawal of 3.9 million barrels to an increase of 1.5 million barrels.
Stocks of distillate fuels, mostly diesel, are expected to be down by 1.6 million barrels at 113.4 million barrels, with forecasts ranging from an increase of 2.1 million barrels to a decrease of 3.2 million barrels.
Refinery capacity use is seen slipping by a tenth of a percentage point to 87.6%. Estimates range from an increase of 1.1 percentage points to a 2.5 percentage-point decline. Two analysts didn't forecast refinery runs.
The inventory data fromthe U.S. Energy Information Administration is scheduled for release Wednesday at 10:30 a.m. ET.
Crude Gasoline Distillates Refinery Use
Again Capital -1.8 1.4 2.1 1.1
Commodity Research Group 2.7 -1.8 -2.3 -0.4
Confluence Investment Management 1.0 1.5 -2.0 1.0
Rystad Energy 5.1 -2.4 -2.0 -2.5
Excel Futures -2.4 -3.9 -3.2 0.4
Spartan Capital Securities 2.1 -1.4 -2.7 n/f
Mizuho 1.0 -2.0 -2.0 -0.5
Price Futures Group -3.0 -1.0 -1.0 unch
Ritterbusch and Associates 1.5 -1.6 -2.0 0.3
Tradition Energy 2.0 -2.0 -1.0 n/f
AVERAGE 0.8 -1.3 -1.6 -0.1
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
10-22-24 1323ET
