Analysts expect US commercial oil inventories to rise

Commercial stocks of oil in US storage facilities during the reporting week are likely to have increased slightly compared to the previous week, Report informs referring to The Wall Street Journal.

According to an average of 11 analysts and traders, oil reserves in US storage increased by 100,000 barrels during the week of August 6-12. Five analysts suggest a reduction in stocks, and six expect growth. Estimates range from -4 million barrels to +3 million barrels.

The release of the Energy Information Administration's (EIA) weekly report from the US Department of Energy is expected at 14:30 GMT on August 17.

Gasoline inventories, on average, expect analysts polled to be down 900,000 barrels from the previous week. Estimates range from -3.1 million barrels to +2 million barrels.

Inventories of distillates, including heating and diesel fuel, as analysts assume on average, increased by 1.3 million barrels during the reporting week. Estimates range from -1.5 million barrels to +3.6 million barrels.

US refinery capacity fell 0.1 percentage points to 94.2% this week, the EIA is likely to report. Forecasts range from -0.9 percentage points to +1.1 percentage points. Two analysts did not provide a forecast for this indicator.