Analysts expect DOE to post increase in oil, gasoline stockpiles
By APThursday, January 21, 2010
Ahead of the Bell: Build in crude reserves seen
NEW YORK — The Energy Department will likely report a 1.65 million-barrel build in crude oil reserves on Thursday for the week ended Feb. 12, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.
The Energy Information Administration releases its weekly report at 11 a.m. EST.
Platts also expects gasoline stockpiles to rise by 1.5 million barrels, distillate stocks to decline 1.6 million barrels and refinery utilization to increase 0.28 percentage points to 79.38 percent.
A reading above or below estimates can influence market trading.
Last Wednesday, the EIA said for the week ended Feb. 5 crude inventories climbed by 2.4 million barrels to 331.4 million barrels; gasoline inventories rose by 2.3 million barrels to 230.4 million barrels; and distillate inventories fell by 300,000 barrels to 156.2 million barrels.
Last week’s crude oil figure exceeded the build of 2 million barrels analysts expected.
