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US Crude Stocks Seen Down 1.1m bbl in Week to June 28: WSJ

OIL

US crude oil inventories are expected to have fallen by 1.1m bbl in the week to June 28, according to a WSJ survey of eight analysts and traders.

  • Six respondents expected a crude draw, and two predicted a build. Responses ranged from -4.3m bbl to +3.1m bbl.
  • Gasoline inventories are expected to have fallen by 1.1m bbl. Responses ranged from -3.4m bbl to +1.9m bbl.
  • Distillate inventories, mainly diesel, are seen with a draw of 0.6m bbl. Responses ranged from -3m bbl to +2.1m bbl
  • Refinery capacity use is projected to be up 0.6 percentage points to 92.8%.
  • A Reuters survey saw crude falling by 0.2m bbl, gasoline down 1.5m bbl, and distillates down 1.1m bbl last week.
  • The official figures will be released by the EIA at 10:30 ET July 3.

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