U.S. Crude-Oil Stocks Seen Decreasing in DOE Data -- Update

By Timothy Puko Features Dow Jones Newswires

U.S. crude-oil stocks are expected to show a decrease in data due Wednesday from the Department of Energy, according to a survey of analysts and traders by The Wall Street Journal. Estimates from 12 analysts and traders surveyed showed that U.S. oil inventories are projected to have decreased by 3.5 million barrels, on average, in the week ended June 2.

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All 12 expect stockpiles to shrink. Forecasts range from a decrease 5 million barrels to a decrease of 1.6 million barrels. The closely watched survey from the Energy Information Administration is due at 10:30 a.m. ET Wednesday.

Gasoline stockpiles are expected to show a decrease of 200,000 barrels, on average, according to analysts. Seven expect them to rise and five expect them to fall. Estimates range from a drop of 3.3 million barrels to an increase of 2 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to grow by 400,000 million barrels. Three analysts expect an increase, five expect a decrease and one expects no change. Forecasts range from a decline of 2 million barrels to an increase of 2.2 million barrels.

Refinery use is seen falling 0.2 percentage point to 94.8% of capacity, based on EIA data. Five analysts expect a decrease, three expect an increase and three didn't report expectations. Forecasts range from a decrease of 1 percentage point to an increase of 0.5 point.

The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed a 4.6-million-barrel decrease in crude supplies, a 4.1-million-barrel increase in gasoline stocks and a 1.8-million-barrel increase in distillate inventories, according to a market participant.

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Crude Gasoline Distillates Refinery Use

Again Capital -1.6 0.9 -1.1 -0.4

Citi Futures Perspective -2.5 1 1 -1

Confluence Investment Management -3 1.5 1 0

Energy Management Institute -2.5 1 1 0.5

Excel Futures -4.4286 -2.418 -0.213 -0.3

First Standard Financial -2.9 -3.323 0.378931 na

Frost & Sullivan

Ion Energy Group -4.5 1.5 0 na

Price Futures Group -4 -3 -2 0.5

Ritterbusch and Associates -5 2 2.2 0.4

Schneider Electric -3.5 -1.1 0.8 -0.25

Tradition Energy -4.5 -1 1 -1

Tyche Capital Advisors -4 0.5 0.25 na

AVERAGE -3.5 -0.2 0.4 -0.2

High -1.6 2 2.2 0.5

Low -5 -3.323 -2 -1

(Figures in millions of barrels except for refining capacity, which is reported in percentage points. For analysts providing forecasts in a range, the average of the upper and lower ends of the range is used.)

Write to Timothy Puko at tim.puko@wsj.com

(END) Dow Jones Newswires

June 06, 2017 17:25 ET (21:25 GMT)