By Paulo Trevisani
U.S. crude-oil stockpiles are expected to have decreased from the previous week in data due Thursday from the Energy Department, according to a survey of analysts and traders by The Wall Street Journal.
Estimates from nine analysts and traders showed U.S. oil inventories are projected to have declined by 1.2 million barrels for the week ended July 1. Seven of the analysts surveyed are expecting a decline, while two forecast an increase. Forecasts range from a decrease of 4 million barrels to an increase of 3.1 million barrels.
The closely watched survey from the DOE's Energy Information Administration is scheduled for release at 11 a.m. ET Thursday. The release usually comes on Wednesday, but was delayed this week because of Monday's July 4th holiday.
Gasoline stockpiles are expected to have fallen by 500,000 barrels from the previous week, according to analysts. Estimates range from a decrease of 3.5 million barrels to an increase of 2 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to rise by 1.1 million barrels from the previous week. Forecasts range from a decrease of 500,000 barrels to an increase of 3.8 million barrels.
Refinery use likely rose by 0.2 percentage point from the previous week. Forecasts range from an increase of 0.5 percentage point to a decrease of 0.4 percentage point. Two analysts didn't make a forecast.
Crude Gasoline Distillates Refinery Use
Citi Futures -1.5 -1.0 1.0 0.5
Commodity Research Group -2.0 2.0 1.1
Confluence Investment Management -4.0 -3.5 1.0 0.5
EMI DTN 0.5 -1.2 0.5 0.3
Excel Futures 3.1 1.5 -0.5 -0.4
Mizuho Group -2.0 1.0 0.5 -0.2
Price Futures Group -2.0 2.0 2.0 0.4
Ritterbusch and Associates -0.5 -2.5 0.5 0.2
Spartan Capital -2.6 -3.1 3.8
AVERAGE -1.2 -0.5 1.1 0.2
n/f = no forecast
unch = unchanged
Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
07-06-22 1141ET
