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US Crude Stocks Seen Rising for Fifth Straight Week: WSJ

OIL

US crude oil inventories likely rose for a fifth straight week, according to a survey by the WSJ.

  • Commercial crude stockpiles are seen increasing by 0.5m bbl to 460.5m bbl for the week ending April 19. This is based on an average of estimates from eight analyst and traders.
  • Estimates for crude stock changes ranged from -4m bbl to +2.3m bbl.
  • Gasoline inventories are seen down 1.5m bbl. Estimates ranged from -3m bbl to -0.9m bbl.
  • Distillate stocks are also seen down by 1m bbl. Forecasts ranged from -3.3m bbl to +2.6m bbl.
  • Refinery capacity is seen rising by 0.5 percentage points to 88.6%.
  • The EIA’s official inventory data will be released at 10:30 am ET (15:30 BST) April 24.

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