By Dan Molinski
U.S. crude-oil stockpiles are unanimously expected to decrease from the previous week in data due Wednesday from the Energy Department, according to a survey of analysts and traders by The Wall Street Journal.
Estimates from 11 analysts and traders showed U.S. oil inventories are projected to have fallen by 2.9 million barrels in the week ended June 11, with forecasts ranging from declines of 500,000 barrels to 4.5 million barrels.
The closely watched survey from the DOE's Energy Information Administration is scheduled for release at 10:30 a.m. ET Wednesday.
Gasoline stockpiles are expected to fall by 800,000 barrels from the previous week, according to analysts. Estimates range from a decrease of 3 million barrels to an increase of 4.3 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to rise by a marginal 100,000 barrels from the previous week. Forecasts range from a decrease of 2 million barrels to an increase of 3.7 million barrels.
Refinery use likely rose by 0.2 percentage point to 91.5% of capacity. Forecasts range from a decrease of 0.5 percentage point to a 1 percentage-point increase. Two analysts didn't make a forecast.
Refinery Crude Gasoline Distillates Use Again Capital -3.9 -1.4 -1 0.3 Citi Futures -1.5 1.5 1.5 0.5 Commodity Research Group -4.4 -2.1 -0.9 -0.5 Confluence Investment Management -2.5 -1 1 0.3 DTN -2.5 1 1.5 -0.5 Excel Futures -4.5 4.3 3.7 1 Spartan Capital Securities -2.7 -2.9 -0.9 n/f Mizuho -2 -1 -1 -0.5 Price Futures Group -4 -3 -2 1 Ritterbusch and Associates -3 -2.0 -1.1 0.4 Tradition Energy -0.5 -2 0.5 n/f AVERAGE -2.9 -0.8 0.1 0.2
Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.
n/f = no forecast
Write to Dan Molinski at dan.molinski@wsj.com
(END) Dow Jones Newswires
06-15-21 1126ET