By Anthony Harrup


U.S. crude oil inventories likely extended their decline to seven weeks with export demand remaining high and refineries running near full capacity, according to a survey by The Wall Street Journal.

Commercial crude stocks are seen falling by 2.9 million barrels to 430.8 million barrels in the week ended June 5, according to the average estimate of eight analysts and traders. Expectations range from a draw of 1.4 million barrels to a draw of 7.1 million barrels.

Gasoline inventories are expected to have fallen by 600,000 barrels to 214.4 million barrels, with estimates ranging from a 2.6 million barrel decline to a 1.4 million barrel increase.

Stocks of distillate fuel, mostly diesel, are seen down by 500,000 barrels at 101.8 million barrels, with forecasts ranging from a 2 million barrel draw to a 2 million barrel build.

Refinery capacity use likely edged up by one tenth of a percentage point to 94.8%, according to the survey. Estimates range from a 0.6 percentage point increase to a 0.6 percentage point decline. Two analysts didn't forecast refinery runs.

The U.S. Energy Information Administration is scheduled to release the inventory data on Wednesday at 10:30 a.m. EDT. 


 
                                    Crude    Gasoline  Distillates Refinery Use 
   Again Capital                    -2.2        1.4       -1.9       -0.6 
   Confluence Investment Management -2.0        1.0        2.0        0.5 
   Rystad Energy                    -4.8       -0.4        0.2        0.1 
   Spartan Capital Securities       -1.4       -2.6        0.9        n/f 
   Mizuho                           -2.0       -2.0       -2.0        0.6 
   Price Futures Group              -2.0       -2.0       -2.0       unch 
   Ritterbusch and Associates       -1.8       -1.0       -1.2        0.2 
   Tradition Energy                 -7.1        0.4        0.3        n/f 
 
   AVERAGE                          -2.9       -0.6       -0.5        0.1

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

06-09-26 1349ET