Investing.com - Financial Markets Worldwide

U.S. crude inventories seen down for fifth straight week: Reuters poll

Published 01/03/2019, 01:32 PM
Updated 01/03/2019, 01:35 PM
© Reuters. FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub in Cushing
SCHN
-
CL
-
NYF
-

(Reuters) -

REUTERS ACTUAL FOR CHANGE VS YR-AGO

FORECAST FOR WEEK (EIA) PREVIOUS CHANGE WEEK

WEEK ENDED ENDED WEEK ENDED

12/28/18 12/21/18 12/29/17

CRUDE -3.1 MLN 441.4 MLN 0.0 MLN -7.4 MLN

DISTILLATE 1.6 MLN 119.9 MLN 0.0 MLN 8.9 MLN

GASOLINE 2.0 MLN 233.1 MLN 3.0 MLN 4.8 MLN

REFINERY RUNS 0.5 PCT PT 95.1 PCT 0.3 PCT PT 1.0 PCT PT

NATGAS STORAGE FORECAST -92 BCF TO -25 BCF (18 forecasts)

U.S. crude oil inventories were expected to have fallen last week for the fifth consecutive time, while analysts expected a build in refined products, an extended Reuters poll showed on Thursday.

Nine analysts polled by Reuters estimated, on average, that crude stocks fell 3.1 million barrels in the week to Dec. 28. The poll took place ahead of reports from the American Petroleum Institute (API), an industry group, and the U.S. Department of Energy's Energy Information Administration (EIA).

Crude inventories fell by 46,000 barrels in the week to Dec. 21, a much smaller draw than the decrease of 2.9 million barrels that analysts had expected. It was the fourth consecutive decrease.

Both the API and EIA reports for the latest week were delayed by two days due to the New Year's holiday. The API data is now scheduled for release on Thursday, Jan. 3, at 4:30 p.m. EST (2130 GMT), while the EIA report is due on Friday, Jan. 4, at 11 a.m. EST (1600 GMT).

Analysts estimated that stockpiles of gasoline rose about 2.0 million barrels last week.

Distillate inventories , which include heating oil and diesel fuel, were seen up about 1.6 million barrels in the past week, the poll showed.

The rate of refinery utilization was expected to rise 0.5 percentage point from a reading of 95.1 percent of total capacity in the week ended Dec. 21, according to the poll.

All figures for fuel stocks in millions of barrels; refinery runs change measured in percentage points:

Organization Crude Distillates Gasoline Refinery

Runs

Again Capital -3.4 1.2 2.7 1.1

Citi Futures -2.0 2.5 2.0 1.0

Confluence 2.0 3.0 3.0 -0.5

Commodity Research Group -4.2 -1.0 0.8 -0.4

EMI DTN -2.0 2.2 1.8 0.8

Price Futures Group -3.0 -3.0 -3.0 1.0

Refinitiv -3.2 N/A N/A N/A

Schneider Electric (PA:SCHN) -3.8 1.9 1.5 0.2

© Reuters. FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub in Cushing

Ritterbusch Associates -4.5 4.0 3.0 0.5

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.