U.S. crude-oil stocks are expected to show a decline in data due Wednesday from the Department of Energy, according to a survey of analysts and traders by The Wall Street Journal.
Continue Reading Below
Estimates from 11 analysts and traders surveyed showed that U.S. oil inventories are projected to have decreased by about 600,000 barrels, on average, in the week ended April 21.
Three analysts expect stockpiles to grow and eight expect them to shrink. Forecasts range from a decrease of 2.9 million barrels to an increase of 3 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 show a decrease of 900,000 barrels on average, according to analysts. Three analysts expect gasoline supplies to rise and eight expect them to fall. Estimates range from a decrease of 2.8 million barrels to an increase of 2.6 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to shrink by 1.3 million barrels. All 11 analysts expect supplies to decrease. Forecasts range from a decline of 2 million barrels to an decrease of 300,000 barrels.
Continue Reading Below
Refinery use is seen falling 0.3 percentage point to 92.6% of capacity, based on EIA data. Six analysts expect an decrease, three expect an increase, and two didn't report expectations. Forecasts range from a decrease of 1.5 percentage points to an increase of 1 point.
The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed an 897,000-barrel increase in crude supplies, a 4.4-million-barrel increase in gasoline stocks and a 36,000-barrel decline in distillate inventories, according to a market participant.
Crude Gasoline Distillates Refinery Use
Again Capital -0.7 2.6 -0.3 0.2
Citi Futures -1 -1 -1 -1
Commodity Research Group -2.4 -2.8 -1.8 -0.8
Confluence Investment Management 1 0.5 -1.5 -0.5
Excel Futures -2.9 -1.8 -1.1 0.3
First Standard Financial -0.3 -2.8 -0.6 n/a
Oil Outlooks and Opinions -2 -2 -2 1
Ritterbusch and Associates -0.4 -0.6 -0.4 -0.3
Schneider Electric 3 -2.5 -2 -0.5
Tradition Energy 1 1.5 -2 -1.5
Tyche Capital Advisors -1.6 -0.8 -1.2 n/a
AVERAGE -0.6 -0.9 -1.3 -0.3
Write to Alison Sider at firstname.lastname@example.org
(END) Dow Jones Newswires
April 25, 2017 17:09 ET (21:09 GMT)