U.S. Crude-Oil Stocks Seen Increasing in DOE Data
By Stephanie Yang
U.S. crude-oil stocks are expected to show an increase 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 increased by 2.5 million barrels, on average, in the week ended Feb. 2.
Ten analysts expect a rise and one analyst expects stockpiles to fall. Forecasts range from a decrease of 1.7 million barrels to an increase of 3.8 million barrels.
The closely watched survey from the Energy Information Administration is scheduled to be released at 10:30 a.m. ET Wednesday.
Gasoline stockpiles are expected to rise by 700,000 barrels on average, according to analysts. Seven analysts expect them to rise and three expect them to fall. One analyst expects no change. Estimates range from a decline of 3 million barrels to an increase of 4 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to decrease by 1.1 million barrels. Two analysts expect an increase and nine analysts expect a decrease. Forecasts range from a decline of 3 million barrels to an increase of 1.2 million barrels.
Refinery use is seen on average falling by 0.2 percentage point to 87.9% of capacity. Two analysts expect an increase and seven expect a decrease. Two didn't report expectations. Forecasts range from a drop of 1 point to an increase of 1.1 points.
Crude Gasoline Distillates Refinery Use Again Capital 3.4 -1.9 -0.8 -0.6 Citi Futures 2.5 1.5 -1.5 1.1 Commodity Research Group 3.3 4 -2.6 0.5 Confluence Investment Management 2.5 1 -1 -0.5 Energy Management Institute 2.2 1.8 -1.5 -0.2 First Standard Financial -1.7 -0.6 1.2 N/A IAF Advisors 3 0 -3 N/A Mizuho 2.5 1 -1 -0.5 Price Futures Group 2.5 -3 -2.5 -1 Ritterbusch and Associates 3.5 1.0 1.2 -0.4 Schneider Electric 3.8 2.5 -0.5 -0.5 AVERAGE 2.5 0.7 -1.1 -0.2
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(END) Dow Jones Newswires
February 06, 2018 13:03 ET (18:03 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.