U.S. Crude-Oil Stocks Seen Increasing in DOE Data

By Stephanie Yang Features Dow Jones Newswires

(This article was originally published Wednesday.)

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U.S. crude-oil stocks are expected to show an increase in data due Thursday from the Department of Energy, according to a survey of analfysts and traders by The Wall Street Journal.

The damage done by Tropical Storm Harvey is likely to muddle the numbers on crude-oil and product inventories over the next few weeks, leading to some uncertainty in analyst forecasts and a wide range of expectations for storage reports.

Estimates from 11 analysts and traders surveyed showed U.S. oil inventories are projected to have increased by 5 million barrels, on average, in the week ended Sept. 1.

Nine analysts expect stockpiles to rise and two expect them to fall. Forecasts range from an increase of 21 million barrels to a decrease of 3 million barrels.

The closely watched survey from the Energy Information Administration is due at 11 a.m. EDT Thursday.

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Gasoline stockpiles are expected to show a decrease of 5.7 million barrels on average, according to analysts. The 11 analysts expect them to fall. Estimates range from a decline of 2.1 million to 14 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to fall by 3.5 million barrels. The 11 analysts expect a decrease. Forecasts range from a fall of 1.7 million to 7 million barrels.

Refinery use is seen declining by 13.6 percentage points to 83% of capacity. Nine analysts expect a decrease and two didn't report expectations. Forecasts range from a decline of 5 points to 20 points.

The American Petroleum Institute, an industry group, said late Wednesday that its data for the week showed a 2.8 million-barrel increase in crude supplies, a 2.5 million-barrel fall in gasoline stocks and a 603,000-barrel decrease in distillate inventories, according to a market participant.

Crude Gasoline Distillates Refinery Use

Again Capital 4.2 -5.2 -3.3 -8.7

Citi Futures 5 -6 -4 -16

Commodity Research Group 4.6 -5.3 -1.7 -18.3

Confluence Investment Management 2 -3 -3 -5

Energy Management Institute 5.1 -6.5 -4 -15

First Standard Financial -1.7 -2.1 -1.9 N/A

IAF Advisors 2.5 -5 -2 N/A

Mizuho 21 -14 -7 -20

Price Futures Group -3 -3 -3 -9

Ritterbusch and Associates 9.3 -6.0 -5.2 -13.0

Schneider Electric 6.5 -6.5 -3.5 -17.5

AVERAGE 5.0 -5.7 -3.5 -13.6

Write to Stephanie Yang at stephanie.yang@wsj.com

(END) Dow Jones Newswires

September 07, 2017 09:14 ET (13:14 GMT)