By Anthony Harrup
U.S. crude oil inventories are expected to have fallen last week, with refineries raising capacity use for a fifth consecutive week in the lead-up to the summer driving season, according to a survey by The Wall Street Journal.
Commercial crude oil stocks are seen falling by 800,000 barrels to 441 million barrels in the week ended May 16, according to the average estimate of eight analysts and traders. Six expect a decline and two predict an increase, with estimates ranging from a drop of 2.8 million barrels to a build of 1.7 million barrels.
Gasoline inventories are expected to be down by 1.1 million barrels at 223.6 million barrels, falling for the 11th time in 12 weeks. Estimates for gasoline range from a rise of 1.1 million barrels to a drop of 2.6 million barrels.
Stocks of distillate fuels, mostly diesel, are seen falling by 1.3 million barrels to 102.3 million barrels, with forecasts ranging from an increase of 500,000 barrels to a draw of 3 million barrels.
Refinery capacity use likely rose by 0.4 of a percentage point to 90.6%, with estimates ranging from a 1.5 percentage-point decline to a 1.2 percentage-point increase. Two analysts didn't forecast refinery runs.
The U.S. Energy Information Administration is scheduled to release weekly inventory data on Wednesday at 10:30 a.m. EDT.
Crude Gasoline Distillates Refinery Use
Again Capital -1.1 -2.1 -1.4 0.6
Confluence Investment Management -0.5 1.0 -1.0 1.2
Rystad Energy 1.7 0.1 -1.0 -1.5
Excel Futures -2.8 -2.6 -3.0 0.7
Spartan Capital Securities -1.4 1.1 -1.7 n/f
Price Futures Group -2.0 -2.0 -2.0 1.0
Ritterbusch and Associates 1.2 -1.8 0.5 0.5
Tradition Energy -1.5 -2.5 -1.2 n/f
AVERAGE -0.8 -1.1 -1.3 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
05-20-25 1251ET
