By Alison Sider
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 showed U.S. oil inventories are projected to have increased by 2.5 million barrels, on average, in the week ended March 9.
All 11 analysts expect stockpiles to rise. Forecasts range from an increase of 1 million barrels to an increase of 4 million barrels.
The closely watched survey from the Energy Information Administration is due at 10:30 a.m. EDT Wednesday.
Gasoline stockpiles are expected to fall by 800,000 barrels, on average. Four analysts expect them to rise and seven forecast them to fall. Estimates range from a decrease of 3 million barrels to an increase of 1.9 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to fall by 1.1 million barrels. One analyst expects an increase, and 10 expect a decrease. Forecasts range from a fall of 3 million barrels to an increase of 2 million barrels.
Refinery use is seen falling by 0.2 percentage point to 87.8% of capacity. Three analysts expect an increase, six forecast a decrease, and two didn't report expectations. Forecasts range from a decrease of 0.7 percentage point to an increase of 0.7 percentage point.
The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed a 1.2-million-barrel increase in crude supplies, a 1.3-million-barrel fall in gasoline stocks and a 4.3-million-barrel decrease in distillate inventories, according to a market participant.
Crude Gasoline Distillates Refinery Use
Again Capital 2.7 -1.1 -1.8 -0.7
Citi Futures 1 -2 -1 -0.5
Commodity Research Group 4 1.9 2 0.5
Confluence Investment Management 3 -2.5 -1 0.5
Energy Management Institute 1 -2 -1.2 -0.4
Excel Futures 1.5 1 -0.4 0.7
First Standard Financial 1.7 0.5 -1.9 n/a
ION Energy 2.5 -1.5 -3 n/a
Ritterbusch and Associates 3 -3 -1.3 -0.6
Schneider Electric 3.6 -1.6 -2 -0.5
Tradition Energy 3 1 -1 -0.5
AVERAGE 2.5 -0.8 -1.1 -0.2
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(END) Dow Jones Newswires
March 13, 2018 17:08 ET (21:08 GMT)
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