March 13, 2018 / 6:29 PM / 9 months ago

U.S. crude stocks likely rose for third week, products seen down: Reuters poll

FILE PHOTO - The word oil is pictured on an oil bank at a recycling yard in London March 2, 2011. REUTERS/Stefan Wermuth

(Reuters) - U.S. crude inventories likely rose for the third straight week, while gasoline and distillate stockpiles probably fell last week, an extended Reuters poll showed on Tuesday.

Twelve analysts polled ahead of inventory reports from industry group American Petroleum Institute (API) and the U.S. Energy Department’s Energy Information Administration (EIA) estimated, on average, that crude stocks were seen rising 2 million barrels in the week ended March 9.

Crude inventories rose by 2.4 million barrels in the week ended March 2, which was less than the 2.7 million barrel increase analysts had forecast.

The API is scheduled to release its data for last week at 4:30 p.m. EDT (2030 GMT) on Tuesday, and the EIA report is due at 10:30 a.m. EDT (1430 GMT) on Wednesday.

Analysts forecast that stockpiles of gasoline fell 1.2 million barrels last week.

Distillate inventories, which include heating oil and diesel fuel, were seen down 1.5 million barrels last week, the poll showed.

The rate of refinery utilization was projected to fall 0.3 percentage point from 88.0 percent of total capacity in the week ended March 2, according to the poll.

Reporting by Sumita Layek in Bengaluru; Editing by Susan Thomas

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below