By Anthony Harrup
U.S. crude oil inventories are expected to have fallen for a second consecutive week while gasoline and diesel stocks continued to build, according to a survey by The Wall Street Journal.
Commercial crude stocks are seen down by 900,000 barrels at 422 million barrels for the week ended Jan. 2, according to the average estimate of nine analysts and traders. Three expect an increase and six predict a decline, with forecasts ranging from a build of 3 million barrels to a draw of 4 million barrels.
Gasoline inventories are expected to have risen by 2.8 million barrels to 237.1 million barrels, with estimates ranging from an increase of 800,000 barrels to an increase of 6 million barrels.
Stocks of distillate fuel, mostly diesel, are expected to be up by 700,000 barrels at 124.4 million barrels. Forecasts range from a drop of 3.6 million barrels to a build of 3.2 million barrels.
Refinery capacity use likely slipped by one tenth of a percentage point to 94.6%, according to the survey. Forecasts range from a 0.6 percentage point rise to a 0.7 percentage point decline. Three analysts didn’t forecast refinery capacity use.
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 -2.8 1.6 1.1 0.6
Confluence Investment Management 1.5 4.0 3.0 0.5
Rystad Energy -0.3 6.0 3.2 n/f
Excel Futures -4.0 1.7 -0.2 -0.7
Spartan Capital Securities -1.4 0.8 -3.6 n/f
Mizuho -1.0 2.0 1.0 -0.5
Price Futures Group 3.0 2.0 2.0 unch
Ritterbusch and Associates 1.0 3.8 2.4 -0.2
Tradition Energy -3.7 3.2 -3.0 n/f
AVERAGE -0.9 2.8 0.7 -0.1
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
01-06-26 1225ET