U.S. Crude Oil Stocks Seen Lower in Week Ended Jan. 5
10 January 2024 - 4:37AM
Dow Jones News
By Anthony Harrup
U.S. crude-oil inventories likely fell in the first week of
January, while gasoline and distillates stocks are seen adding to
the previous week's heavy builds, according to a survey by The Wall
Street Journal.
A draw of 600,000 barrels to 430.5 million barrels is forecast
for commercial crude stockpiles in the week ended Jan. 5, according
to the average estimate of 10 analysts and traders. Four expect an
increase and six foresee a decline. Expectations range from a build
of 2.1 million barrels to a draw of 3 million barrels.
Gasoline inventories are expected to increase by 2.1 million
barrels to 239.1 million. Estimates range from a 5 million-barrel
build to a 1 million-barrel withdrawal.
Stocks of distillates, mostly diesel fuel, are forecast to rise
by 1 million barrels to 126.9 million barrels, with forecasts
ranging from an increase of 4.2 million barrels to a decline of 3.1
million barrels.
Refinery capacity use likely eased by 0.8 percentage point, to
92.7%, according to the survey. Forecasts range from a decrease of
0.4 percentage point to 2 percentage points. Two analysts made no
forecast for refinery runs.
The U.S. Energy Information Administration is scheduled to
release its inventories report at 10:30 a.m. EST Wednesday.
Crude Gasoline Distillates Refinery Use
Again Capital -2.6 1.9 2.4 -0.8
Commodity Research Group 0.7 -0.3 -2.8 -0.4
Confluence Investment Management 1.6 4.0 4.2 -2.0
DTN -1.2 2.2 1.0 -0.4
Excel Futures 2.1 1.9 1.6 -0.5
Spartan Capital Securities 1.9 2.8 -3.1 n/f
Mizuho -2.0 3.0 2.0 -0.5
Price Futures Group -1.0 -1.0 -1.0 -1.0
Ritterbusch and Associates -3.0 5.0 4.0 -1.0
Tradition Energy -2.2 1.8 1.3 n/f
AVERAGE -0.6 2.1 1.0 -0.8
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
January 09, 2024 12:22 ET (17:22 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.