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Americas Daily Oil Summary: Surveys Expect US Crude Draw

OIL
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US crude oil inventories are expected to have fallen last week, while gasoline stocks were stable and distillate inventories rose, according to a WSJ survey of 10 analysts and traders.

  • Crude oil inventories are seen to have fallen 1.1m bbl in the week ending May 10. Responses ranged from -4m bbl to +1.6m bbl.
  • US retail automotive gas prices fell to $3.463/gal in the week ending May 10, a fall of 0.7% on the week, according to EIA data cited by Bloomberg.
  • USGC- Europe crud flows are set to exceed 2m b/d in May, following a 16-month low in April: Bloomberg.
  • Mexico’s President Andrés Manuel López Obrador (AMLO) has assured that the Dos Bocas (Olmeca) refinery is already operating, although for low-sulphur diesel and not for gasoline, according to El Universal.
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US crude oil inventories are expected to have fallen last week, while gasoline stocks were stable and distillate inventories rose, according to a WSJ survey of 10 analysts and traders.

  • Crude oil inventories are seen to have fallen 1.1m bbl in the week ending May 10. Responses ranged from -4m bbl to +1.6m bbl.
  • US retail automotive gas prices fell to $3.463/gal in the week ending May 10, a fall of 0.7% on the week, according to EIA data cited by Bloomberg.
  • USGC- Europe crud flows are set to exceed 2m b/d in May, following a 16-month low in April: Bloomberg.
  • Mexico’s President Andrés Manuel López Obrador (AMLO) has assured that the Dos Bocas (Olmeca) refinery is already operating, although for low-sulphur diesel and not for gasoline, according to El Universal.