U.S. Crude Oil Stockpiles Seen Lower in Week Ended Sept. 20
By Anthony Harrup
U.S. crude oil inventories likely fell last week along with declines in gasoline and distillate fuel stocks, according to a survey by The Wall Street Journal.
Commercial crude oil stocks are estimated to have decreased by 800,000 barrels to 416.7 million barrels in the week ended Sept. 20, according to the average estimate of 10 analysts and traders. Eight expect a drop in inventories, and two predict an increase, with estimates ranging from a build of 2 million barrels to a draw of 2 million barrels.
Gasoline inventories are expected to be down by 500,000 barrels at 221.1 million barrels, with estimates ranging from an increase of 1.4 million barrels to a decrease of 3 million barrels.
Stocks of distillate fuels, mostly diesel, are forecast to have fallen by 1.2 million barrels to 123.9 million barrels. Forecasts range from a build of 1.3 million barrels to a withdrawal of 3.8 million barrels.
Refinery capacity use is seen down by half of a percentage point at 91.6%, with estimates ranging from a 1.1 percentage point increase to a decrease of 1.7 percentage points. 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. EDT.
Crude Gasoline Distillates Refinery Use Again Capital -1.8 1.4 -1.0 1.1 Commodity Research Group -1.0 -0.5 1.0 -1.0 Confluence Investment Management -1.5 1.0 -2.0 -0.8 Rystad Energy -1.4 0.2 -3.8 -1.0 Excel Futures -0.8 -1.4 -1.2 -1.7 Spartan Capital Securities -1.6 -0.8 1.3 n/f Mizuho 2.0 0.5 0.5 -0.5 Price Futures Group -2.0 -2.0 -2.0 unch Ritterbusch and Associates 1.5 -0.5 -2.0 0.3 Tradition Energy -1.1 -3.0 -3.0 n/f AVERAGE -0.8 -0.5 -1.2 -0.5
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
September 24, 2024 12:00 ET (16:00 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
Undervalued by 25% and Yielding 5%, This Stock Is a Buy
-
Can AI Predict Future Stock Returns?
-
The Best Energy Stocks to Buy Now
-
10 Undervalued Wide-Moat Stocks
-
Obesity Drugs: Can New Firms Take Market Share From Eli Lilly and Novo Nordisk?
-
New 4-Star Stocks
-
Intel Fair Value Left Unchanged Despite Qualcomm Takeover Talk