By Anthony Harrup


U.S. stocks of crude oil and distillate fuels likely fell last week, while gasoline inventories are seen increasing for a fifth consecutive week, according to a survey by The Wall Street Journal.

Commercial crude stockpiles are forecast to have fallen by 800,000 barrels to 419.9 million barrels in the week ended Jan. 26, according to the average estimate of 10 traders and analysts. Expectations range from a draw of 6 million barrels to a build of 6.3 million barrels, with four respondents predicting an increase a six foreseeing a decline.

Crude inventories saw a surprisingly large draw the previous week as severe winter weather led to an estimated 1 million-barrel-a-day decline in U.S. crude production. The weather also contributed to a sharp drop in refinery use.

Refinery runs are seen rising by 1.7 percentage points for the week ended Jan. 26 to 87.2%, according to the survey, with estimates ranging from a rise of 3.3 percentage points to a drop of 0.8 percentage point.

Gasoline inventories are forecast to have increased by 1.4 million barrels to 254.4 million, with estimates ranging from a build of 3.4 million barrels to a draw of 2 million barrels.

Stocks of distillates, mostly diesel fuel, are seen down by 800,000 barrels to 132.5 million barrels. Forecasts range from an increase of 2.1 million barrels to a decrease of 2 million.

The inventory data from the U.S. Energy Information Administration is scheduled for release at 10:30 a.m. EST Wednesday. 


 
                                   Crude   Gasoline Distillates Refinery Use 
   Again Capital                    -2.8      3.4      2.1       1.8 
   Commodity Research Group          0.5      2.0     -1.1       2.5 
   Confluence Investment Management -1.1      2.0     -1.5       0.7 
   DTN                              -2.6      2.1     -0.8       3.2 
   Excel Futures                     6.3      1.9     -1.7      -0.8 
   Spartan Capital Securities        0.7      2.2     -1.7       n/f 
   Mizuho                           -4.0      2.0     -1.0       2.6 
   Price Futures Group              -2.0     -1.0     -1.0       0.5 
   Ritterbusch and Associates        3.2      1.0      0.6       3.3 
   Tradition Energy                 -6.0     -2.0     -2.0       n/f 
 
   AVERAGE                          -0.8      1.4     -0.8       1.7

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

01-30-24 1258ET