US crude, products stockpiles seen down last week

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U.S. crude oil and product stockpiles were expected to have fallen last week, a preliminary Reuters poll showed on Monday.

Four analysts polled by Reuters estimated that crude inventories on average fell by 200,000 barrels in the week to June 28.

The poll was conducted ahead of reports from the American Petroleum Institute industry group, due at 4:30 p.m. EDT (2030 GMT) on Tuesday, and the Energy Information Administration, the statistical arm of the U.S. Department of Energy, due at 10:30 a.m. EDT (1430 GMT) on Wednesday.

Crude inventories rose by 3.6 million barrels to 460.7 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.9 million-barrel draw.

Analysts estimated stockpiles of gasoline fell about 1.5 millionbarrels last week, while distillate inventories USOILD=ECI, which include diesel and heating oil, were expected to have decreased by about 1.1 million barrels.

The rate of refinery utilization was estimated to increase by 0.9 percentage point from 92.2% of total capacity in the previous week, the poll found.

All figures for stocks are in millions of barrels. Refinery runs change is measured in percentage points.

Source: Reuters