U.S. Crude-Oil Stockpiles Projected to Decline

The Energy Department is set to release data on U.S. crude-oil stockpiles, with analysts and traders predicting a decrease from the previous week. According to a survey conducted by The Wall Street Journal, the average of estimates from eight experts shows a projected decline of 2.4 million barrels for the week ended August 18. Out of the forecasters, seven anticipate a decrease, while one predicts a slight increase. Expectations for this week's inventory range from a decline of 4 million barrels to an increase of 1.4 million barrels.

The inventory data is highly anticipated and will be released by the Energy Information Administration at 10:30 a.m. EDT on Wednesday.

Gasoline inventories, on the other hand, are expected to decrease by 500,000 barrels compared to the previous week, according to analysts. Estimates range from a decline of 3 million barrels to a slight increase of 1.1 million barrels.

In terms of distillates, which mainly include diesel fuel, stockpiles are projected to increase by 200,000 barrels from the previous week. Forecasts suggest a range between a decrease of 3 million barrels and an increase of 1.9 million barrels.

Refinery Use Data

According to forecasts, refinery use is expected to increase by 0.4 percentage points to reach 95.1%. However, there are some analysts who did not provide a forecast for this week.

Inventory Levels

The American Petroleum Institute has reported the following changes in inventory levels:

• Crude supplies decreased by 2.4 million barrels
• Gasoline stocks increased by 1.9 million barrels
• Diesel inventories declined by 153,000 barrels

Analyst Forecasts

Here are the forecasts provided by various analysts for the changes in inventory levels:

| Agency | Crude | Gasoline | Distillates | Refinery Use | |-------------------------------|---------|----------|-------------|--------------| | Again Capital | -3.1 | 1.1 | 0.9 | 0.4 | | Confluence Investment Mgmt | -3 | -1.5 | 0.5 | 0.5 | | DTN | -2.2 | -0.8 | 0.5 | 0.4 | | Excel Futures | -2.4 | 0.5 | 0.9 | -0.4 | | Spartan Capital Securities | 1.4 | -1 | 1.9 | n/f | | Price Futures Group | -3 | -3 | -3 | 1 | | Ritterbusch and Associates | -2.8 | -0.3 | 0.2 | 0.4 | | Tradition Energy | -4 | 0.7 | -0.1 | n/f | | Average | -2.4| -0.5 | 0.2 | 0.4 |

n/f = no forecast

unch = unchanged