U.S. Crude-Oil Stocks Seen Increasing in DOE Data
February 21 2018 - 5:19PM
Dow Jones News
By Alison Sider
U.S. crude-oil stocks are expected to show an increase in data
due Thursday from the Department of Energy, according to a survey
of analysts and traders by The Wall Street Journal.
Estimates from 10 analysts and traders showed U.S. oil
inventories are projected to have increased by 1.9 million barrels,
on average, in the week ended Feb. 16.
Nine analysts expect stockpiles to rise and one expected them to
fall. Forecasts range from a decrease of 3.5 million barrels to an
increase of 4.7 million barrels.
The closely watched survey from the Energy Information
Administration is due at 11 a.m. EST Thursday.
Gasoline stockpiles are expected to remain unchanged on average.
Four analysts expect them to rise and six expect them to fall.
Estimates range from a decrease of 2 million barrels to an increase
of 2.9 million barrels.
Stocks of distillates, which include heating oil and diesel, are
expected to fall by 800,000 barrels. One analyst expects an
increase, and nine expect a decrease. Forecasts range from a fall
of 2.5 million barrels to an increase of 200,000 barrels.
Refinery use is seen falling 0.8 percentage point to 89% of
capacity. Eight analysts expect a decrease and two did not report
expectations. Forecasts range from a decrease of 1 percentage point
to a decrease of 0.4 percentage point.
The American Petroleum Institute, an industry group, said late
Wednesday that its own data for the week showed a 900,000-barrel
decrease in crude supplies, a 1.5-million-barrel rise in gasoline
stocks and a 3.6-million-barrel decrease in distillate inventories,
according to a market participant.
Crude Gasoline Distillates Refinery Use
Citi Futures 1 -1 -1.5 -1
Commodity Research Group 4.7 1.5 -1.4 -0.4
Confluence Investment Management 3 -2 -2 -0.5
Energy Management Institute 1 0.5 -1.6 -0.8
Excel Futures 2 2.9 -0.8 -0.8
First Standard Financial 0.6 -0.5 0.2 N/A
ION Energy 3.5 -1 -1 N/A
Price Futures Group -3.5 2 -2.5 -1
Ritterbusch and Associates 3 -2 -2.3 -1
Schneider Electric 3.7 0.5 -0.9 -1
AVERAGE 1.9 0.0 -1.4 -0.8
(END) Dow Jones Newswires
February 21, 2018 17:04 ET (22:04 GMT)
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