US crude, gasoline inventories likely rose last week, distillates seen down
Repeats Tuesday's poll with no changes
Nov 19 (Reuters) -U.S. crude oil and gasoline stockpiles likely rose last week, while distillate inventories were seen down, an extended Reuters poll showed on Tuesday.
Nine analysts polled by Reuters estimated on average that crude inventories rose by about 100,000 barrels in the week to Nov. 15.
The poll was conducted ahead of a report from the American Petroleum Institute industry group at 4:30 p.m. EST (2130 GMT) on Tuesday and one from the Energy Information Administration, the statistical arm of the U.S. Department of Energy, at 10:30 a.m. EST (1530 GMT) on Wednesday.
Crude inventories rose by 2.1 million barrels to 429.7 million barrels in the week to Nov. 8, the EIA said, more than analysts' expectations for a 750,000-barrel rise.
REUTERS FORECAST CHANGE FOR WEEK ENDED 11/15/24 | ACTUAL FOR WEEK (EIA) ENDED 11/08/24 | PREVIOUS WEEK CHANGE | YR-AGO CHANGE WEEK ENDED 11/17/23 | |
CRUDE | 0.1 MLN | 429.7 | 2.1 MLN | 8.7 MLN |
DISTILLATE | -0.02 MLN | 114.4 | -1.4 MLN | -1 MLN |
GASOLINE | 0.9 MLN | 206.9 | -4.4 MLN | 0.8 MLN |
REFINERY RUNS | 0.1 PCT PT | 91.4 | 0.9 PCT PT | 0.9 PCT PT |
NATGAS STORAGE FORECAST | -1 BCF TO 14 BCF (FIVE FORECASTS) | |||
Analysts estimated stockpiles of gasoline USOILG=ECI rose by about 900,000 barrels last week, while distillate inventories USOILD=ECI, which include diesel and heating oil, were expected to have decreased by about 20,000 barrels.
The rate of refinery utilization USOIRU=ECI was estimated to have increased by 0.1 percentage point from 91.4% of total capacity in the previous week, the poll found.
All figures for stocks are in millions of barrels. Refinery-rate changes are measured in percentage points.
Organization | Crude | Distillate | Gasoline | Refinery runs |
Again Capital | -2.4 | 1.6 | 1.3 | 0.8 |
Commodity Research Group | 0.4 | -0.2 | 1.2 | -0.3 |
Confluence Group | 2.5 | 3.0 | 1.0 | -0.5 |
Excel Futures | 2.4 | -2.4 | -3.8 | 0.4 |
LSEG | 1.0 | 0.2 | 1.2 | -0.3 |
Macquarie Group | -1.2 | -0.3 | -2.4 | -0.2 |
Ritterbusch Associates | 1.2 | -0.5 | 2.0 | 0.7 |
Stratas Advisor | -2.2 | -2.4 | 1.7 | 0.6 |
Rystad Energy | -0.6 | 1.5 | 2.6 | -0.4 |
Reporting by Anmol Choubey in Bengaluru
Editing by Marguerita Choy
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