Dow Jones Newswires: U.S. crude-oil stockpiles likely declined in latest Energy Department data, analysts say

by | Jul 6, 2022 | Stock Market

U.S. crude-oil stockpiles are expected to have decreased from the previous week in data due Thursday from the Energy Department, according to a survey of analysts and traders by The Wall Street Journal. Estimates from nine analysts and traders showed U.S. oil inventories are projected to have declined by 1.2 million barrels for the week ended July 1. Seven of the analysts surveyed are expecting a decline, while two forecast an increase. Forecasts range from a decrease of 4 million barrels to an increase of 3.1 million barrels.

The closely watched survey from the DOE’s Energy Information Administration is scheduled for release at 11 a.m. ET Thursday. The release usually comes on Wednesday, but was delayed this week because of Monday’s July 4th holiday. Gasoline stockpiles are expected to have fallen by 500,000 barrels from the previous week, according to analysts. Estimates range from a decrease of 3.5 million barrels to an increase of 2 million barrels. Stocks of distillates, which include heating oil and diesel, are expected to rise by 1.1 million barr …

Article Attribution | Read More at Article Source

Share This