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By Dan Molinski


U.S. crude-oil stockpiles are expected to increase from the previous week in data due Thursday from the U.S. Energy Department, 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 climbed by 900,000 barrels for the week ended Oct. 8, with nine analysts forecasting an increase and two analysts predicting a decline. Forecasts ranged from a decrease of 2.5 million barrels to an increase of 3 million barrels.

The closely watched survey from the DOE's Energy Information Administration is scheduled for release at 11 a.m. EDT Thursday, a day later than normal because of Monday's Columbus Day holiday.

Gasoline stockpiles are expected to rise by 600,000 barrels from the previous week, according to analysts. Estimates range from a decrease of 1.5 million barrels to an increase of 3.3 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to fall 1.1 million barrels from the previous week. Forecasts range from a decrease of 4.2 million barrels to an increase of 1.4 million barrels.

Refinery use was likely unchanged on the week at 89.6% of capacity. Forecasts range from a decline of 1.7 percentage points to an increase of 1.2 percentage points. Two analysts didn't make a forecast.

The American Petroleum Institute, an industry group, said late Wednesday its data for the week showed a 5.2 million-barrel increase in crude supplies, a 4.6 million-barrel decline in gasoline stocks and a 2.7 million-barrel decrease in distillate inventories, according to a source.

                                    Crude   Gasoline    Distillates   Use 
Again Capital                        1.1      -0.9         -1.4       1.2 
Citi Futures                        -2.5         1         -1.5      -1.5 
Commodity Research Group             1.8       0.4          0.8      -1.7 
Confluence Investment Management       3      -1.5           -2        -1 
Energy Management Institute          1.5       1.2         -0.5      -0.4 
Excel Futures                        1.3       3.3          1.4       1.1 
Spartan Capital Securities           2.6       3.2         -1.8       n/f 
Mizuho                                 1         2           -1       0.5 
Price Futures Group                   -2        -1           -1         1 
Ritterbusch and Associates             2      -1.2         -4.2       0.6 
Tradition Energy                     0.5      -0.2           -1       n/f 
AVERAGE                              0.9       0.6         -1.1      unch 

n/f = no forecast

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.


Write to Dan Molinski at dan.molinski@wsj.com


(END) Dow Jones Newswires

October 13, 2021 16:59 ET (20:59 GMT)

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