SunSirs: Crude Oil Storage in the United States Fell Last Week

https://www.chemnet.com   Jun 18,2024 SunSirs

According to foreign news on June 17, a preliminary survey released on Monday showed that the U.S. crude oil and distillate inventories were expected to decline last week, and gasoline inventories may increase.

According to the survey average of five surveyed analysis institutions, as of the week of June 14, the U.S. crude oil inventory is expected to decline by 2.3 million barrels.

The American Petroleum Institute (API) will release the industry inventory report at 4:30 a.m. Beijing time on Wednesday, and the U.S. Energy Information Administration (EIA) will release the official inventory report at 23:00 on Thursday. The EIA weekly report is usually released on Wednesday. This week, due to the June holiday, it was postponed to Thursday.

The EIA report showed that as of the week of June 7, U.S. crude oil inventories increased by 3.7 million barrels to 459.7 million barrels, and analysts had expected a decline of 1million barrels.

Analysts expect that U.S. gasoline inventories will increase by about 1.5 million barrels by the week of June 14. The storage of distillate oil depot, including diesel oil and heating oil, decreased by about 300,000 barrels.

The survey shows that the capacity utilization rate of the refinery is expected to remain unchanged at 95% of the previous week.

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