Analysts Predict Lower Stockpiles in Latest Survey
- U.S. crude oil stockpiles expected to decrease last week
- Gasoline inventories also forecasted to decline
- Distillate fuel stocks anticipated to fall
- Refinery capacity use projected to drop by 0.8 percentage points
According to a survey by The Wall Street Journal, U.S. crude oil inventories are estimated to have decreased by 500,000 barrels to 412.5 million barrels, gasoline inventories are expected to be down by 300,000 barrels at 219.8 million barrels, and distillate fuel stocks are forecasted to have fallen by 1.5 million barrels to 121.4 million barrels. The U.S. Energy Information Administration is set to release the official inventory data on Wednesday.
Factuality Level: 9
Factuality Justification: The article provides accurate and objective information about the expected changes in crude oil, gasoline, and distillate fuel inventories based on estimates from various analysts and traders. It also includes relevant details about the range of forecasts for each category and mentions the source of official data release. The information is presented without any bias or personal perspective.
Noise Level: 4
Noise Justification: The article provides relevant and accurate information about changes in oil inventory levels based on estimates from various analysts. It stays on topic and supports its claims with data and forecasts. However, it lacks analysis or exploration of long-term trends or consequences, as well as actionable insights for the reader.
Private Companies: Again Capital,Commodity Research Group,Confluence Investment Management,Rystad Energy,Excel Futures,Spartan Capital Securities,Mizuho,Price Futures Group,Ritterbusch and Associates,Tradition Energy
Key People: Paulo Trevisani (Author)
Financial Relevance: Yes
Financial Markets Impacted: Crude oil, gasoline, and distillate fuel markets
Financial Rating Justification: The article discusses changes in inventories of crude oil, gasoline, and distillate fuel which can impact their respective market prices, affecting companies involved in the production, distribution, and trading of these commodities.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text and it does not meet the criteria for an extreme event happening in the last 48 hours.
Move Size: No market move size mentioned.
Sector: Energy
Direction: Up
Magnitude: Small
Affected Instruments: Commodities
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