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

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06/12/2018 | 09:18 pm


By Benjamin Parkin





U.S. crude-oil stocks are expected to fall in data due Wednesday from the Department of Energy, according to a survey of analysts and traders by The Wall Street Journal.



Estimates from 11 analysts and traders surveyed showed U.S. oil inventories are projected to have fallen by 1.6 million barrels, on average, in the week ended June 8.



Nine analysts expect a fall and two analyst expects stockpiles to rise. Forecasts range from a decrease of 4.7 million barrels to an increase of 1.5 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 700,000 barrels on average, according to analysts. Eight analysts expect them to rise and two expect them to fall. One expects no change. Estimates range from a decline of 2 million barrels to an increase of 3.3 million barrels.



Stocks of distillates, which include heating oil and diesel, are expected to rise by 400,000 barrels. Seven analysts expect an increase and four expect a decrease. Forecasts range from a decline of 1.5 million barrels to an increase of 2.5 million.



Refinery use is seen unchanged at 95.4% of capacity. Four analysts expect an increase, four expect a decrease and one expects no change. Two didn't report expectations. Forecasts range from a drop of 1 point to an increase of 1 point.




Refinery
Crude Gasoline Distillates Use
Again Capital -0.9 1.1 0.5 0.4
Commodity Research Group -4.7 0.2 -0.8 0.2
Confluence Investment Management -1 1.5 0.5 0
Energy Management Institute -2.6 1.3 1.6 0.4
Excel Futures -1.5 3.3 2.5 -0.4
Spartan Capital Securities 0.9 -1.6 -0.5 N/A
IAF Advisors -3.5 0 -0.5 N/A
Mizuho -0.5 2 1 -0.4
Price Futures Group -3 -2 -1.5 1
Schneider Electric -2.5 1.4 0.9 -0.5
Tradition Energy 1.5 1 0.5 -1
AVERAGE -1.6 0.7 0.4 0.0



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