U.S. Crude-Oil Inventories Likely To Fall in DOE Data, Analysts Say

U.S. crude-oil stockpiles are expected to decrease from the previous week in data due Thursday from the U.S. Energy Department, according to a survey of analysts and traders by The Wall Street Journal.

Estimates from 10 analysts and traders showed U.S. oil inventories are projected to have fallen by 2.5 million barrels in the week ended Sept. 7, with seven analysts forecasting a decline and three expecting an increase. The forecasts ranged from a decline of 11 million barrels to an increase of 4 million barrels.

The closely watched survey from the DOE's Energy Information Administration is scheduled for release at 11 a.m. ET Thursday, a day later than normal due to Monday's Labor Day holiday.

Gasoline stockpiles are expected to fall by 2.9 million barrels from the previous week, according to analysts. Estimates range from a decrease of 5.5 million barrels to an increase of 100,000 barrels.

Stocks of distillates, which include heating oil and diesel, are expected to fall 2.3 million barrels from the previous week. Forecasts range from decreases of 1 million barrels to 4.1 million barrels.

Refinery use likely fell by 4.4 percentage points to 86.9% of capacity. Forecasts range from declines of 0.4 percentage point to 7.5 percentage points. Two analysts didn't make a forecast.

                                                                 Refinery
                                   Crude  Gasoline  Distillates   Use
Again Capital                       -2.9      -2.6         -1.1      -0.4
Citi Futures                         -11      -3.5         -2.5        -6

Confluence Investment Management      -6        -4           -1        -6
DTN                                 -1.4      -5.5         -3.5      -7.5
Excel Futures                       -6.4      -2.9         -4.1      -1.1
Spartan Capital Securities           1.4      -3.9         -1.6       n/f

Mizuho                                 3        -1           -2        -4
Price Futures Group                    4        -4           -4        -5
Ritterbusch and Associates          -1.5      -2.0         -1.8      -5.5

Tradition Energy                      -4       0.1         -1.2  n/f

AVERAGE                             -2.5      -2.9         -2.3      -4.4

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

n/f = no forecast

Write to Dan Molinski at dan.molinski@wsj.com

(Adds API data)

By Dan Molinski

U.S. crude-oil stockpiles are expected to decrease from the previous week in data due Thursday from the U.S. Energy Department, according to a survey of analysts and traders by The Wall Street Journal.

Estimates from 10 analysts and traders showed U.S. oil inventories are projected to have fallen by 2.5 million barrels in the week ended Sept. 7, with seven analysts forecasting a decline and three expecting an increase. The forecasts ranged from a decline of 11 million barrels to an increase of 4 million barrels.

The closely watched survey from the DOE's Energy Information Administration is scheduled for release at 11 a.m. ET Thursday, a day later than normal due to Monday's Labor Day holiday.

Gasoline stockpiles are expected to fall by 2.9 million barrels from the previous week, according to analysts. Estimates range from a decrease of 5.5 million barrels to an increase of 100,000 barrels.

Stocks of distillates, which include heating oil and diesel, are expected to fall 2.3 million barrels from the previous week. Forecasts range from decreases of 1 million barrels to 4.1 million barrels.

Refinery use likely fell by 4.4 percentage points to 86.9% of capacity. Forecasts range from declines of 0.4 percentage point to 7.5 percentage points. Two analysts didn't make a forecast.

The American Petroleum Institute, an industry group, said late Wednesday that its data for the week showed a 2.9 million-barrel decrease in crude supplies, a 6.4 million-barrel rise in gasoline stocks and a 3.7 million-barrel decrease in distillate inventories, according to a source.

                                                                   Refinery
                                    Crude   Gasoline   Distillates    Use
Again Capital                       -2.9      -2.6         -1.1      -0.4
Citi Futures                         -11      -3.5         -2.5        -6
Confluence Investment Management      -6        -4           -1        -6
DTN                                 -1.4      -5.5         -3.5      -7.5
Excel Futures                       -6.4      -2.9         -4.1      -1.1
Spartan Capital Securities           1.4      -3.9         -1.6       n/f
Mizuho                                 3        -1           -2        -4
Price Futures Group                    4        -4           -4        -5
Ritterbusch and Associates          -1.5      -2.0         -1.8      -5.5
Tradition Energy                      -4       0.1         -1.2  n/f

AVERAGE                             -2.5      -2.9         -2.3      -4.4

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

n/f = no forecast

Write to Dan Molinski at dan.molinski@wsj.com


  (END) Dow Jones Newswires
  09-08-21 1155ET
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