Impact of Hurricane Francine on U.S. Energy Sector

  • U.S. crude oil inventories likely fell last week
  • Gasoline and distillate fuels stocks expected to increase
  • Refinery capacity use decreased by 1.4 percentage points
  • Hurricane Francine impacted offshore oil production and refining activity in Louisiana

According to a Wall Street Journal survey, U.S. crude oil inventories are expected to decrease by 1 million barrels, reaching 418.1 million barrels in the week ended September 13th. Gasoline and distillate fuel stocks may have increased by 600,000 and 300,000 barrels respectively. Refinery capacity use is estimated to have fallen by 1.4 percentage points. The U.S. Energy Information Administration will release official data on Wednesday.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the expected changes in crude oil inventories, gasoline, and distillate fuels based on a survey of analysts and traders. It also mentions the potential impact of Hurricane Francine on the inventory data. The information is relevant to the topic and does not include any sensationalism or personal perspective.
Noise Level: 2
Noise Justification: The article provides relevant and accurate information about the expected changes in oil inventories, gasoline stocks, distillate fuels, and refinery capacity use. It also mentions the potential impact of Hurricane Francine on these figures. The information is based on a survey of analysts and traders, which adds credibility to the forecasts. However, it lacks any in-depth analysis or exploration of long-term trends or consequences. It does not offer actionable insights or new knowledge for readers.
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: Anthony Harrup (Author)

Financial Relevance: Yes
Financial Markets Impacted: U.S. crude oil inventories, gasoline and distillate fuels markets
Financial Rating Justification: The article discusses the expected changes in U.S. crude oil inventories, gasoline, and distillate fuel stocks, which can impact the financial markets of these commodities. Additionally, it mentions the effects of Hurricane Francine on offshore oil production and refining activity, which can also affect market prices.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the article
Move Size: No market move size mentioned.
Sector: Energy
Direction: Up
Magnitude: Small
Affected Instruments: Commodities

Reported publicly: www.marketwatch.com