By Anthony Harrup
U.S. crude oil inventories likely fell for a third week in a row with increased refinery runs contributing to builds in product stocks, according to a survey by The Wall Street Journal.
Commercial crude oil stocks are seen falling by 1.6 million barrels to 434.5 million barrels for the week ended June 6, according to the average estimate of 10 analysts and traders. Three expect an increase in stocks and seven predict a decline. Expectations range from a build of 2 million barrels to a withdrawal of 4 million barrels.
Gasoline inventories are expected to be up by 900,000 barrels at 229.2 million barrels, with estimates ranging from a 4.9-million-barrel increase to a 3.3-million-barrel drop.
Stocks of distillate fuels, mostly diesel, are seen rising by 900,000 barrels to 108.5 million barrels, with forecasts ranging from a build of 4 million barrels to a decline of 3.3 million barrels.
Refinery capacity use likely edged up by a fifth of a percentage point to 93.6%. Forecasts range from a 1-percentage-point increase to a 0.6-percentage-point decline. Two analysts didn't forecast refinery runs.
The U.S. Energy Information Administration is scheduled to release weekly inventory data on Wednesday at 10:30 a.m. EDT.
Crude Gasoline Distillates Refinery Use
Again Capital -2.6 -1.4 -1.1 0.6
Commodity Research Group -3.5 0.7 0.7 -0.6
Confluence Investment Management -1.5 1.0 2.0 -0.2
Rystad Energy -3.8 0.8 -0.2 -0.3
Excel Futures -4.0 4.9 4.0 0.6
Spartan Capital Securities 1.4 -1.3 0.5 n/f
Mizuho -2.5 2.0 1.5 0.8
Price Futures Group 2.0 -3.3 -3.3 unch
Ritterbusch and Associates 2.0 1.6 1.5 1.0
Tradition Energy -3.1 4.2 3.5 n/f
AVERAGE -1.6 0.9 0.9 0.2
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
06-10-25 1158ET
