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OIL: US Crude Stocks Seen Rising 1.7m bbl in Week to Oct. 11: Platts

OIL
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US crude stocks likely climbed by 1.7m bbl in the week to Oct. 11 to 424.4m bbl, according to analysts surveyed by Platts.

  • This level would be the highest crude inventory since mid-August but remains far below the five-year average 6.3m bbl build for this time of year.
  • If correct, it would put US stocks 4.7m bbl above last year’s level, but 4% below the five-year average.
  • Total US gasoline stocks likely fell 1m bbl on the week, while distillate inventories were seen falling 2.5m bbl.
  • Analysts saw refinery utilisation at 86.2%, down 0.5 percentage points on the week.
  • Seasonal turnarounds have trimmed runs, but Platts expects further decreases, positioning them at levels that would be well above what is considered historically average for the time of year.
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US crude stocks likely climbed by 1.7m bbl in the week to Oct. 11 to 424.4m bbl, according to analysts surveyed by Platts.

  • This level would be the highest crude inventory since mid-August but remains far below the five-year average 6.3m bbl build for this time of year.
  • If correct, it would put US stocks 4.7m bbl above last year’s level, but 4% below the five-year average.
  • Total US gasoline stocks likely fell 1m bbl on the week, while distillate inventories were seen falling 2.5m bbl.
  • Analysts saw refinery utilisation at 86.2%, down 0.5 percentage points on the week.
  • Seasonal turnarounds have trimmed runs, but Platts expects further decreases, positioning them at levels that would be well above what is considered historically average for the time of year.