(Reuters) -U.S. crude oil stockpiles were expected to have risen last week, while distillate inventories likely fell and gasoline declined marginally, an extended Reuters poll showed on Wednesday.
Nine analysts, polled by Reuters ahead of weekly inventory data, estimated that on average crude inventories rose by about 3.1 million barrels in the week to February 14.
Crude inventories rose by 4.1 million barrels to 427.9 million barrels in the week ended February 7, the EIA said, compared with analysts’ expectations in a Reuters poll for a 3 million-barrel rise.
REUTERS FORECAST ACTUAL FOR PREVIOUS WEEK YR-AGO CHANGE
CHANGE FOR WEEK WEEK (EIA) CHANGE WEEK ENDED
ENDED ENDED 02/16/24
02/14/25 02/07/25
CRUDE 3.1 MLN 427.9 4.1 MLN 3.5 MLN
DISTILLATE -1.6 MLN 118.6 0.1 MLN -4 MLN
GASOLINE 0 MLN 248.1 -3 MLN -0.3 MLN
REFINERY -0.4 PCT PT 85% 0.5 PCT PT 0 PCT PT
RUNS
NATGAS -204 BCF TO -153 BCF (NINE FORECASTS)
STORAGE
FORECAST
Analysts estimated gasoline stockpiles fell marginally by about 6,000 barrels last week, and distillate inventories, which include diesel and heating oil, dropped by about 1.6 million barrels.
The rate of refinery utilization was estimated to have fallen by 0.4 percentage points from 85% of total capacity in the previous week, the poll found.
U.S. crude oil and gasoline stocks rose last week while distillate inventories fell, market sources said, citing American Petroleum Institute figures on Wednesday.
Crude stocks rose by 3.34 million barrels in the week ended February 14, the sources said on condition of anonymity. Gasoline inventories rose by 2.83 million barrels and distillate stocks fell by 2.69 million barrels, they said.
The poll was conducted ahead of weekly reports from the American Petroleum Institute industry group and an upcoming one from the Energy Information Administration, the statistical arm of the U.S. Department of Energy, at 12:00 p.m. ET (1700 GMT) on Thursday. The data was delayed by a day due to the President’s Day holiday on Monday.
All figures for stocks are in millions of barrels. Refinery rate changes are measured in percentage points.
Organization Crude Distillate Gasoline Refinery
runs
Again Capital 1.9 -1.0 1.7 -0.8
Confluence 3.0 -1.5 -1.5 -1.0
Commodity Research Group 4.8 -0.2 -1.7 -0.2
Excel Futures 3.9 -3.0 -2.6 -0.6
Macquarie Group 3.8 -1.2 1.1 -0.1
Price Futures Group 2.0 2.0 2.0 0
Refinitiv 2.3 -1.0 0.7 -0.3
Ritterbusch 2.2 -3.5 0.8 0.3
Rystad Energy 6.6 -4.3 -1.1 -0.6
(Reporting by Noel John in Bengaluru; Editing by Nia Williams)
