U.S. Crude Oil Stockpiles Seen Lower in Week Ended Sept. 27, Analysts Say

By Paulo Trevisani

U.S. inventories of crude oil, gasoline and distillate fuel all likely fell last week, according to a survey by The Wall Street Journal.

Commercial crude oil stocks are estimated to have decreased by 500,000 barrels to 412.5 million barrels in the week ended Sept. 27, according to the average estimate of 10 analysts and traders. Six expect a drop in inventories, and four predict an increase, with estimates ranging from a build of 2.6 million barrels to a draw of 3.1 million barrels.

Gasoline inventories are expected to be down by 300,000 barrels at 219.8 million barrels, with estimates ranging from an increase of 1.8 million barrels to a decrease of 3 million barrels.

Stocks of distillate fuels, mostly diesel, are forecast to have fallen by 1.5 million barrels to 121.4 million barrels. Forecasts range from a build of 1.1 million barrels to a withdrawal of 4.3 million barrels.

Refinery capacity use is seen down by 0.8 percentage point at 90.1%, with estimates ranging from a 1.1 percentage point increase to a decrease of 3.5 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               2.6       1.8            1.1            1.1 
 Commodity Research Group   -1.5       0.4           -1.2           -0.7 
 Confluence Investment 
 Management                  1.0       0.5           -2.0           -0.3 
 Rystad Energy              -0.9       1.7           -4.3           -3.5 
 Excel Futures              -3.1      -1.7           -2.3           -1.1 
 Spartan Capital 
 Securities                  0.8      -1.6            0.5            n/f 
 Mizuho                      1.0      -1.0           -0.5           -0.5 
 Price Futures Group        -3.0      -3.0           -3.0           -1.0 
 Ritterbusch and Associates -2.0       1.0           -0.8           -0.3 
 Tradition Energy           -0.3      -0.8           -2.2            n/f 
 AVERAGE                    -0.5      -0.3           -1.5           -0.8 
Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points. 

(END) Dow Jones Newswires

October 01, 2024 12:45 ET (16:45 GMT)

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