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POLL: U.S. crude, gasoline stockpiles seen down in latest week

17:21, 21 June 2022

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A file photo of storage tanks seen at Marathon Petroleum's Los Angeles Refinery, which processes domestic & imported crude oil, in Carson, California, U.S., March 11, 2022.
A file photo of storage tanks seen at Marathon Petroleum's Los Angeles Refinery, which processes domestic & imported crude oil, in Carson, California, U.S., March 11, 2022.

By Kavya Guduru

June 21 (Reuters)- U.S. crude and gasoline inventories likely fell last week, while distillate stockpiles were seen up, a preliminary Reuters poll showed on Tuesday.

Five analysts polled by Reuters estimated on average that crude inventories decreased by around 1.4 million barrels in the week to June 17.

The poll was conducted ahead of reports from the American Petroleum Institute, an industry group, due at 4:30 p.m. EST (2130 GMT) on Wednesday, and the U.S. Energy Information Administration, the statistical arm of the U.S. Department of Energy, due at 11 a.m. EST (1500 GMT) on Thursday. Both sets of data are delayed a day by the Juneteenth federal holiday on Monday.

Crude inventories USOILC=ECI rose by 2 million barrels in the last week to 418.7 million barrels, compared with analysts' expectations in a Reuters poll for a 1.3 million-barrel drop.

Analysts estimated stockpiles of gasoline USOILG=ECI decreased by about 600,000 barrels last week.

Distillate inventories USOILD=ECI, which include diesel and heating oil, were expected to have increased by about 600,000 barrels.

The rate of refinery utilization USOIRU=ECI was seen up 0.5 percentage point from 93.7% of total capacity for the week ended June 10, 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

Citi Futures

-2.5

1.0

1.0

0.5

Commodity Research Group

1.1

0.6

-0.3

0.5

Confluence

-3.0

0.0

-1.0

0.5

DTN

-1.0

0.8

-0.5

0.4

Ritterbusch Associates

-0.8

0.4

-1.5

0.4

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