By Paulo Trevisani
U.S. crude oil inventories likely rose last week, along with gasoline and distillate stocks, according to a survey by The Wall Street Journal.
Commercial crude oil stockpiles are seen rising by 1.1 million barrels at 428.8 million barrels in the week ended Nov. 8, according to the average estimate of eight analysts and traders. Six expect an increase and two predict a decline, with forecasts ranging from a withdrawal of 3.3 million barrels to a build of 3.5 million barrels.
Gasoline inventories are expected to have increased by 600,000 barrels to 211.9 million barrels, with estimates ranging from an 1 million barrel decrease to an increase of 2.1 million barrels.
Stocks of distillate fuels, mostly diesel, are expected to be up by 1.3 million barrels at 117.1 million barrels. Forecasts range from a decrease of 1 million barrels to an increase of 3 million barrels.
Refinery capacity use is seen rising to 90% from 89.2% the previous week, with estimates ranging from a 2.4 percentage point increase to a half percentage point decline. One analysts didn't forecast refinery runs.
The inventory data from the U.S. Energy Information Administration is scheduled for release Thursday at 10:30 a.m. EST.
Crude Gasoline Distillates Refinery Use
Again Capital 1.6 2.1 1.3 1.2
Confluence Investment Management 3.5 1.0 3.0 0.5
Rystad Energy -3.3 -0.5 2.5 2.4
Excel Futures 1.8 1.1 1.3 0.7
Spartan Capital Securities 1.6 1.9 2.3 n/a
Mizuho 2.0 -0.5 -1.0 -0.5
Price Futures Group -1.0 -1.0 -1.0 1.0
Ritterbusch and Associates 2.4 0.6 1.7 0.3
AVERAGE 1.1 0.6 1.3 0.8
Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.
(END) Dow Jones Newswires
11-13-24 1435ET
