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U.S. crude stockpiles, products seen down last week

Wednesday, 29 June 2022 | 13:00

U.S. crude oil, distillate and gasoline inventories likely fell last week, a preliminary Reuters poll showed on Monday.

Five analysts polled by Reuters estimated on average that crude inventories fell by around 100,000 barrels in the week to June 24.

The poll was conducted ahead of reports that are usually released by the American Petroleum Institute, an industry group, at 4:30 p.m. EDT (2030 GMT) on Tuesday and the Energy Information Administration (EIA), the statistical arm of the U.S. Department of Energy, at 10:30 a.m. EDT (1430 GMT) on Wednesday.

However, the EIA said its weekly oil data, which was scheduled for release last week, will be delayed due to systems issues. It was unclear when the EIA will publish those reports.

Analysts estimated stockpiles of gasoline USOILG=ECI dropped by about 700,000 barrels last week.

Distillate inventories USOILD=ECI, which include diesel and heating oil, were expected to have decreased by about 400,000 barrels.

The rate of refinery utilization USOIRU=ECI was seen 0.5 percentage point higher compared to the prior week, the poll found.

All figures for fuel stocks are in millions of barrels. Refinery run changes are measured in percentage points.
Source: Reuters (Reporting by Kavya Guduru in Bengaluru; Editing by Jan Harvey)

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