US crude, fuel inventories seen down last week
June 25 (Reuters) - U.S. crude oil and product stockpiles were expected to have fallen last week, an extended Reuters poll showed on Tuesday.
Sevenanalysts polled by Reuters estimated that crude inventories on average fell by 2.9 millionbarrels in the week to June 21.
The poll was conducted ahead of reports from the American Petroleum Institute industry group, due at 4:30 p.m. EDT (2030 GMT) on Tuesday, and the Energy Information Administration, the statistical arm of the U.S. Department of Energy, due at 10:30 a.m. EDT (1430 GMT) on Wednesday.
Crude inventories USOILC=ECI fell by 2.5 million barrels in the week ending June 14 to 457.1 million barrels, the EIA said, compared with analysts' expectations for a 2.2 million-barrel draw.
REUTERS FORECAST CHANGE FOR WEEK ENDED 06/21/24 | ACTUAL FOR WEEK (EIA) ENDED 06/14/24 | CHANGE VS PREVIOUS WEEK | YR-AGO CHANGE WEEK ENDED 06/23/23 | |
CRUDE | -2.9 MLN | 457.1 MLN | -2.5 MLN | -9.6 MLN |
DISTILLATE | -0.3 MLN | 121.6 MLN | -1.7 MLN | 0.1 MLN |
GASOLINE | -1.0 MLN | 231.2 MLN | -2.3 MLN | 0.6 MLN |
REFINERY RUNS | 0.1 PCT PT | 93.5% | -1.5 PCT PT | -0.9 PCT PT |
NATGAS STORAGE FORECAST | 32 BCF TO 55 BCF (FIVE FORECASTS) | |||
Analysts estimated stockpiles of gasoline USOILG=ECI fell about 1 million barrels last week, while distillate inventories USOILD=ECI, which include diesel and heating oil, were expected to have decreased by about 300,000 barrels.
The rate of refinery utilization USOIRU=ECI was estimated to increase by 0.1 percentage point from 93.5% of total capacity in the previous week, the poll found.
All figures for stocks are in millions of barrels. Refinery runs change is measured in percentage points.
Organization | Crude | Distillate | Gasoline | Refinery runs |
Again Capital | -1.8 | -1.1 | -1.9 | -0.6 |
Commodity Research Group | -2.0 | 0.3 | 0.1 | -0.2 |
Confluence | -3.0 | 0.5 | -1.5 | -0.6 |
Excel Futures | -3.0 | -1.5 | -1.6 | 0.8 |
LSEG | -3.2 | 0.5 | 0.1 | 0.2 |
Price Futures Group | -3.0 | -2.0 | -1.0 | 1.0 |
Ritterbusch Associates | -4.0 | 1.5 | -1.1 | 0.2 |
Reporting by Anmol Choubey in Bengaluru
Editing by Marguerita Choy
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