By Anthony Harrup
U.S. crude-oil inventories likely fell last week while product stocks continued to build with refineries running at a high capacity rate, according to a survey by The Wall Street Journal.
Commercial crude stocks are expected to have fallen by 1.6 million barrels to 425.9 million barrels in the week ended Dec. 5, according to the average estimate of nine analysts and traders. Eight expect a drop and one predicts an increase. Expectations range from a build of 1.1 million barrels to a decline of 6.4 million barrels.
Gasoline inventories are seen rising by 2 million barrels to 216.4 million barrels, with estimates ranging from a 4.9 million barrel increase to a withdrawal of 2.1 million barrels.
Stocks of distillate fuel, mostly diesel, are forecast to have risen by 800,000 barrels to 115.1 million barrels, with forecasts ranging from a 3 million barrel increase to a 3 million barrel decline.
Refinery capacity use is expected to have edged up by one-fifth of a percentage point to 94.3%. Forecasts range from a 1-percentage-point increase to a 0.6-percentage-point decrease.
The U.S. Energy Information Administration is scheduled to release the inventory data on Wednesday at 10:30 a.m. EST.
Crude Gasoline Distillates Refinery Use
Again Capital -1.6 1.9 1.3 0.9
Confluence Investment Management -0.5 3.5 3.0 -0.6
Rystad Energy -6.4 2.1 0.4 -0.3
Excel Futures -0.5 4.9 2.9 0.6
Spartan Capital Securities -1.8 -2.1 -2.8 n/f
Mizuho -1.0 2.0 1.0 -0.6
Price Futures Group -3.0 -2.0 -3.0 1.0
Ritterbusch and Associates -0.5 2.6 2.6 0.3
Tradition Energy 1.1 4.9 1.9 n/f
AVERAGE -1.6 2.0 0.8 0.2
Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.
n/f = no forecast
unch = unchanged
Write to Anthony Harrup at anthony.harrup@wsj.com
(END) Dow Jones Newswires
12-09-25 1125ET