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

By Alison Sider Features Dow Jones Newswires

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 seven analysts and traders surveyed showed that U.S. oil inventories are projected to have increased by 3.7 million barrels, on average, in the week ended Sept. 8.

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Six analysts expect stockpiles to grow and one expects them to shrink. Forecasts range from a decrease of 800,000 barrels to an increase of 6.2 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 3 million barrels on average, according to analysts. Seven expect them to fall. Estimates range from a decline of 1 million barrels to a decline of 4.9 million barrels. Stocks of distillates, which include heating oil and diesel, are expected to fall by 1.3 million barrels. Five analysts expect a decrease and two expect an increase. Forecasts range from a decline of 3 million barrels to an increase of 2 million barrels.

Refinery use is seen increasing 4 percentage points to 83.7% of capacity, based on EIA data. Four analysts expect an increase, one expects an decrease, and two didn't report expectations. Forecasts range from a decrease of 6 percentage points to an increase of 11 percentage points.

The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed a 6.2-million-barrel increase in crude supplies, a 7.9-million-barrel fall in gasoline stocks and a 1.8-million-barrel decrease in distillate inventories, according to a market participant.

Crude Gasoline Distillates Refinery Use

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Confluence Investment Management 3.5 -1 2 3

Energy Management Institute 1 -2 -1.8 11

Excel Futures 4.8 -4.9 -2.4 6.3

First Standard Financial -0.8 -3.8 1.5 N/A

IAF Advisors 6 -3 -3 N/A

Price Futures Group 5 -3 -3 -6

Schneider Electric 6.2 -3.6 -2.7 5.5

AVERAGE 3.7 -3.0 -1.3 4.0

Write to Alison Sider at alison.sider@wsj.com

(END) Dow Jones Newswires

September 12, 2017 17:41 ET (21:41 GMT)