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.

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Estimates from nine analysts and traders surveyed showed that U.S. oil inventories are projected to have increased by 2.6 million barrels, on average, in the week ended Sept. 15.

Eight analysts expect stockpiles to grow and one expects them to shrink. Forecasts range from a decrease of 2.8 million barrels to an increase of 5.7 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 2.1 million barrels on average, according to analysts. Eight expect them to fall and one expects them to rise. Estimates range from a decline of 3.6 million barrels to an increase of 1.7 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to fall by 1.5 million barrels. Eight analysts expect a decrease and one expects an increase. Forecasts range from a decline of 3.1 million barrels to an increase of 1.5 million barrels.

Refinery use is seen rising 7.2 percentage points to 84.9% of capacity, based on EIA data. Eight analysts expect an increase and one didn't report expectations. Forecasts range from an increase of 2 percentage points to an increase of 11 percentage points.

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The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed a 1.4-million-barrel increase in crude supplies, a 5.1-million-barrel fall in gasoline stocks and a 6.1-million-barrel decrease in distillate inventories, according to a market participant.

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

(END) Dow Jones Newswires

September 19, 2017 17:12 ET (21:12 GMT)