U.S. crude seen higher last week, gas and distillates inventories fall
| REUTERS FORECAST CHANGE FOR WEEK ENDED 09/16/22 | ACTUAL FOR WEEK (EIA) ENDED 09/09/22 | CHANGE VS PREVIOUS WEEK | YR-AGO CHANGE WEEK ENDED 09/17/21 | |
| CRUDE | 2.3 MLN | 429.6 MLN | 2.4 MLN | -3.5 MLN |
| DISTILLATE | -0.5 MLN | 116.0 MLN | 4.2 MLN | -2.6 MLN |
| GASOLINE | -0.9 MLN | 213.0 MLN | -1.8 MLN | 3.5 MLN |
| REFINERY RUNS | -0.1 PCT PT | 91.5% | 0.6 PCT PT | 5.4 PCT PTS |
| NATGAS STORAGE FORECAST | 87 BCF TO 96 BCF (FOUR FORECASTS) |
Sept 19 (Reuters)- U.S. crude oil stockpiles are expected to have risen last week, while gas and distillate inventories were seen lower, a preliminary Reuters poll showed on Monday.
Five analysts polled by Reuters estimated on average that crude inventories rose by around 2 million barrels in the week to Sept. 16.
The poll was conducted ahead of reports from the American Petroleum Institute, an industry group, due at 4:30 p.m. EDT (2030 GMT) on Tuesday, and the Energy Information Administration, the statistical arm of the U.S. Department of Energy, due at 10:30 a.m. (1430 GMT) on Wednesday.
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Crude inventories USOILC=ECI rose by 2.4 million barrels in the week to Sept. 9 to 429.6 million barrels, compared with analysts’ expectations in a Reuters poll for an 833,000-barrel rise. The gains were boosted by an 8.4-million-barrel release from the U.S. strategic reserves into commercial stocks.
Analysts estimated stockpiles of gasoline (USOILG=ECI) fell by about 900,000 barrels last week.
Distillate inventories (USOILD=ECI), which include diesel and heating oil, were expected to have dropped by 500,000 barrels last week.
The rate of refinery utilization (USOIRU=ECI)was seen 0.1% lower than 91.5% of total capacity for the week ended Sept. 9, the poll found.
All figures for fuel stocks are in millions of barrels. Refinery runs change is measured in percentage points.
| Organization | Crude | Distillate | Gasoline | Refinery runs |
| Confluence | 2.0 | -1.5 | 0.5 | 0.5 |
| Commodity Research Group | 1.7 | 0.9 | 0.1 | -1.0 |
| Excel Futures | 3.3 | 3.1 | -1.8 | -0.6 |
| Price Group | 4.0 | -4.0 | -2.0 | 1.0 |
| Ritterbusch Associates | 1.5 | -1.0 | -1.0 | -0.3 |
Reporting by Seher Dareen in Bengaluru; Editing by David Gregorio
