By Anthony Harrup


U.S. crude oil inventories were likely unchanged last week following two weeks of withdrawals, while gasoline stocks are expected to post a third consecutive decline, according to a survey by The Wall Street Journal.

Commercial crude stocks are forecast to be flat at 445.1 million barrels in the week ended July 12, according to the average estimate of seven analysts and traders. Four expect an increase in stocks and three predict a decrease, with expectations ranging from a build of 1.6 million barrels to a draw of 3 million barrels.

The inventory data for last week will reflect any impact from Hurricane Beryl, which made landfall between Corpus Christi and Galveston on July 8, forcing temporary closure of ports along the Texas coast. Minimal effects on offshore production and refining activity are expected to have resulted from the storm.

Refinery capacity use likely fell by 0.6 percentage point to 94.8%, according to the survey. Forecasts range from an increase of 0.1 percentage point to a reduction of 1.1 percentage points. Two analysts didn't make a forecast.

Gasoline inventories are seen declining by 1.3 million barrels to 228.4 million barrels. Estimates for gasoline range from a draw of 3 million barrels to a build of 150,000 barrels.

Stocks of distillate fuels, mostly diesel, are expected to be down by 400,000 barrels at 124.2 million barrels, with forecasts ranging from an increase of 2.6 million barrels to a decrease of 3 million barrels.

The inventory data from the U.S. Energy Information Administration is scheduled for release Wednesday at 10:30 a.m. EDT. 


                                   Crude   Gasoline Distillates Refinery Use 
   Again Capital                    -1.9     -2.6     -1.7      -1.1 
   Commodity Research Group          1.3      0.1      2.6      -1.1 
   Confluence Investment Management  1.0     -0.5      0.2      -0.9 
   Spartan Capital Securities        1.6     -1.3      1.8       n/f 
   Price Futures Group              -3.0     -3.0     -3.0       unch 
   Ritterbusch and Associates        1.0     -1.7     -0.5       0.1 
   Tradition Energy                 -0.3      0.2     -2.2       n/f 
 
   AVERAGE                          unch     -1.3     -0.4      -0.6

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.

n/f = no forecast

unch = unchanged


Write to Anthony Harrup at anthony.harrup@wsj.com


(END) Dow Jones Newswires

07-16-24 1233ET