By Anthony Harrup
U.S. crude oil inventories were likely unchanged last week, while decreases are expected in gasoline and distillate stocks, according to a survey by The Wall Street Journal.
Commercial crude oil stockpiles are seen steady at 425.5 million barrels in the week ended Nov. 1, according to the average estimate of 10 analysts and traders. Four expect an increase and six predict a decline, with forecasts ranging from a withdrawal of 2.6 million barrels to a build of 3.4 million barrels.
Gasoline inventories are expected to have declined by 900,000 barrels to 210 million barrels, with estimates ranging from a 2.7 million barrel decrease to an increase of 1.6 million barrels.
Stocks of distillate fuels, mostly diesel, are expected to be down by 300,000 barrels at 112.6 million barrels in a seventh consecutive weekly decline. Forecasts range from a decrease of 2 million barrels to an increase of 3.7 million barrels.
Refinery capacity use is seen rising to 89.4% from 89.1% the previous week, with estimates ranging from a 1.1 percentage point increase to a half percentage point decline. 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. EST.
Crude Gasoline Distillates Refinery Use
Again Capital -1.3 1.6 1.0 1.1
Commodity Research Group -1.5 0.3 -0.5 0.9
Confluence Investment Management 3.0 1.0 -2.0 -0.5
Rystad Energy 2.4 -1.3 3.7 0.5
Excel Futures -1.2 -1.5 -0.5 0.6
Spartan Capital Securities -2.6 -1.8 1.1 n/f
Mizuho 1.0 -2.0 -1.0 -0.5
Price Futures Group -2.0 -2.0 -2.0 unch
Ritterbusch and Associates 3.4 -1.0 -1.0 0.3
Tradition Energy -1.0 -2.7 -1.3 n/f
AVERAGE unch -0.9 -0.3 0.3
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
11-05-24 1051ET
