Written by Dan Molinski
U.S. commercial crude oil inventories are expected to rise slightly from last week in data due Wednesday from the Energy Department, according to a survey by The Wall Street Journal.
Estimates from 11 analysts and traders showed that US oil stocks were expected to rise by 100,000 barrels in the week ended Jan. 20, four analysts predicted a decrease and seven predicted an increase. Forecasts range from a 5 million barrel decline to a 4.6 million barrel increase.
The most-watched survey from the DOE’s Energy Information Administration is scheduled to be released at 10:30 am ET on Wednesday.
Gasoline is expected to increase by 1 million barrels from last week, according to analysts. Estimates ranged from a decrease of 3 million barrels to an increase of 3.7 million barrels.
Stocks of distillates, which is diesel fuel, are expected to drop by one million barrels from last week. Forecasts range from a decrease of 2.9 million barrels to an increase of 2 million barrels.
Refinery utilization is likely to increase by 1.4 percentage points from the previous week to 86.7%. Forecasts range from unchanged to a 3 percent increase. Two analysts did not make a forecast.
Refinery Crude Gasoline Distillates Use Again Capital 2.8 1.4 -1.6 1.9 Citi Futures 1.5 1.5 -1.5 2.5 Commodity Research Group 0.5 2.5 -0.7 3 Confluence Investment Management -2.5 2 1 2.5 DTN 2.8 2.4 -1.4 0.6 Excel Futures 4.6 3.7 -1.8 0.6 Spartan Capital Securities 0.9 1.2 -2.9 n/f Mizuho 2 1 -2 1 Price Futures Group -4 -3 2 unch Ritterbusch and Associates -2 0.8 0.3 0.4 Tradition Energy -5 -3 -2.5 n/f AVERAGE 0.1 1.0 -1.0 1.4
n/f = no prediction
unch = unchanged
Note: Numbers are in millions of barrels, excluding refinery utilization, which are percentage points.
Write to Dan Molinski at firstname.lastname@example.org.
(END) Dow Jones Newswires