U.S. crude, distillate stockpiles likely rose last week

FILE PHOTO: Pump jacks operate at sunset in an oil field in Midland
Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford

July 18 (Reuters)- U.S. crude and distillate inventories were seen up last week, while gasoline stockpiles likely fell, a preliminary Reuters poll showed on Monday.

Five analysts polled by Reuters estimated on average that crude inventories increased by around 300,000 barrels in the week to July 15.

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

Crude inventories (USOILC=ECI) rose by 3.3 million barrels in the week to July 8, compared with analysts' expectations in a Reuters poll for a 154,000-barrel drop.

Analysts estimated stockpiles of gasoline (USOILG=ECI)decreased by about 700,000 barrels last week.

Distillate inventories (USOILD=ECI), which include diesel and heating oil, were expected to have increased by about 1.2 million barrels.

The rate of refinery utilization (USOIRU=ECI) was seen up 0.5 percentage point from 94.9% of total capacity for the week ended July 8, the poll found.

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

Reporting by Kavya Guduru in Bengaluru; Editing by Paul Simao

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