By Anthony Harrup
U.S. crude oil inventories likely fell last week, resuming a downward trend after a surprise build the week before, according to a survey by The Wall Street Journal.
Commercial crude stocks are seen falling by 1.5 million barrels to 417.5 million barrels in the week ended July 4, according to the average estimate of nine analysts and traders. Seven expect a decline and two predict an increase. Expectations range from a build of 1.7 million barrels to a draw of 4 million barrels.
Gasoline inventories are expected to be down by 1.3 million barrels at 230.8 million barrels, with estimates ranging from an increase of 1.4 million barrels to a decrease of 3 million barrels.
Stocks of distillate fuels, mostly diesel, are expected to have fallen by 400,000 barrels to 103.2 million barrels, with forecasts ranging from a 2-million-barrel build to a 3-million-barrel drawdown.
Refinery-capacity use is seen down by 0.3 of a percentage point to 94.6%. Forecasts range from a 1.5-percentage-point decline to a 0.4-percentage-point rise. One analyst didn't forecast refinery runs.
The U.S. Energy Information Administration is scheduled to release the inventory data on Wednesday at 10:30 a.m. EDT.
Crude Gasoline Distillates Refinery Use
Again Capital 1.6 -2.4 -2.2 -0.8
Commodity Research Group -1.6 1.4 0.5 0.3
Confluence Investment Management -1.5 -1.0 2.0 -1.5
Rystad Energy -4.0 -1.9 -0.3 0.3
Excel Futures -3.7 -1.7 -1.9 -0.3
Spartan Capital Securities 1.7 -2.2 1.2 n/f
Mizuho -1.0 1.0 -1.5 -0.5
Price Futures Group -3.0 -3.0 -3.0 unch
Ritterbusch and Associates -2.0 -2.0 1.5 0.4
AVERAGE -1.5 -1.3 -0.4 -0.3
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
07-08-25 1210ET
