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

By Stephanie Yang 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.

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Estimates from 12 analysts and traders surveyed showed U.S. oil inventories are projected to have decreased by 2.5 million barrels, on average, in the week ended Jan. 5.

Two analysts expect a rise and 10 analysts expect stockpiles to fall. Forecasts range from a decrease of 6 million barrels to an increase of 8.5 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 rise by 2.5 million barrels on average, according to analysts. Ten analysts expect them to rise and two expect them to fall. Estimates range from a decline of 2 million barrels to a rise of 6.9 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to increase by 1.1 million barrels. Eight analyst expect an increase and four analysts expect a decrease. Forecasts range from a decline of 4 million barrels to an increase of 7.3 million barrels.

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Refinery use is seen on average falling by 0.5 percentage point to 96.2% of capacity. Two analysts expect an increase and seven expect a decrease. One expects no change and three didn't report expectations. Forecasts range from a drop of 2.2 points to an increase of 0.2 point.

The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed an 11.2-million-barrel decrease in crude supplies, a 4.3-million-barrel rise in gasoline stocks and a 4.7-million-barrel increase in distillate inventories, according to a market participant.

Crude Gasoline Distillates Refinery Use

Again Capital -3.1 3.6 1.4 -0.2

Citi Futures -5.5 2.5 3.5 0

Commodity Research Group -3.3 2.1 -2.2 -2.2

Confluence Investment Management 1.5 3 3 -0.5

Energy Management Institute -5.7 2.6 -1 0.2

Excel Futures 8.5 1.6 0.7 -0.6

First Standard Financial -3.8 -1.7 -4 N/A

IAF Advisors -6 3.5 1 N/A

Mizuho -2.5 4 1.5 -0.5

Price Futures Group -3.5 -2 -1 -0.5

Ritterbusch and Associates -2.5 6.9 7.3 0.1

Schneider Electric -4 3.7 3.3 -0.5

Tyche Capital Advisors -3.5 4 2 N/A

AVERAGE -2.5 2.5 1.1 -0.5

(END) Dow Jones Newswires

January 09, 2018 17:03 ET (22:03 GMT)