U.S. Crude-Oil Stocks Seen Falling in DOE Data -- Update
September 25 2018 - 05:19PM
Dow Jones News
(Adding API data)
By Dan Molinski
U.S. crude-oil stocks are expected to decline in data due
Wednesday from the Department of Energy, according to a survey of
analysts and traders by The Wall Street Journal.
Estimates from 11 analysts and traders surveyed showed U.S. oil
inventories are projected to have fallen by 1.3 million barrels, on
average, in the week ended Sept. 21.
Nine of the 11 analysts expect oil stockpiles to fall, with the
forecasts ranging from an increase of 1 million barrels to a
decrease of 3.5 million barrels.
The closely watched survey from the DOE's Energy Information
Administration is scheduled for release at 10:30 a.m. EDT
Wednesday.
Gasoline stockpiles are expected to rise by 200,000 barrels on
average, according to analysts. Estimates range from an increase of
2 million barrels to a decrease of 3.7 million barrels.
Stocks of distillates, which include heating oil and diesel, are
expected to rise by 500,000 barrels. Forecasts range from a build
of 2.5 million barrels to a draw of 2 million.
Refinery use is seen falling 0.9 percentage point, to 94.5% of
capacity. The forecasts range from a 1 percentage-point increase to
a 1.5 percentage-point decrease. One analyst didn't provide a
forecast for refinery use.
The American Petroleum Institute, an industry group, said late
Tuesday that its data for the week showed a 2.9 million-barrel
increase in crude supplies, a 949,000-barrel rise in gasoline
stocks and a 944,000-barrel decrease in distillate inventories,
according to a market participant.
Refinery
Crude Gasoline Distillates Use
Again Capital -1.9 1.1 2.2 -0.4
Citi Futures -1.5 1 0 -1.5
Commodity Research
Group -0.4 -0.5 -0.2 -0.7
Confluence
Investment
Management -0.5 1 -2 -1.5
Energy Management
Institute -1.7 1 0.2 -1.1
Excel Futures 1 1.2 1.5 -1.2
Spartan Capital
Securities -1.3 -3.7 -0.5 n/a
Mizuho 1 -1 0.5 -1.2
Price Futures
Group -3.5 2 2 -1
Ritterbusch and
Associates -2.2 0.7 -0.2 -1.0
Tradition Energy -3.5 -1 2.5 1
AVERAGE -1.3 0.2 0.5 -0.9
Write to Dan Molinski at dan.molinski@wsj.com
(END) Dow Jones Newswires
September 25, 2018 17:04 ET (21:04 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.