Longest Streak Since 2021-2022

  • U.S. crude oil inventories likely fell for a seventh consecutive week
  • Commercial crude stocks expected to decline by 1.2 million barrels
  • Gasoline stocks forecasted to fall by 1.6 million barrels
  • Distillate fuels (mostly diesel) predicted to decrease by 300,000 barrels
  • Refinery capacity use expected to increase by a tenth of a percentage point to 90.6%

According to The Wall Street Journal, U.S. crude oil inventories are expected to decline for the seventh consecutive week, marking the longest streak since November 2021 and January 2022. Commercial crude stocks are anticipated to drop by 1.2 million barrels to 428.1 million barrels, with gasoline stocks forecasted to fall by 1.6 million barrels. Distillate fuels (mostly diesel) are predicted to decrease by 300,000 barrels. Refinery capacity use is expected to increase by a tenth of a percentage point to 90.6%. The U.S. Energy Information Administration will release inventory data on Wednesday at 10:30 a.m. EDT.

Factuality Level: 9
Factuality Justification: The article provides accurate and objective information about the expected changes in crude oil inventories, gasoline stocks, and distillate fuels based on a survey of analysts and traders. It also includes a range of estimates for each forecasted change. The article is focused on the main topic without any digressions or irrelevant details.
Noise Level: 2
Noise Justification: The article provides relevant and accurate information about the expected changes in crude oil inventories, gasoline stocks, and distillate fuels. It also includes a range of forecasts from various analysts and traders. The article stays on topic and does not dive into unrelated territories. However, it lacks analysis or exploration of long-term trends or possibilities, accountability, and actionable insights.
Private Companies: Again Capital,Confluence Investment Management,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: Crude oil prices and related stocks
Financial Rating Justification: The article discusses the expected decline in U.S. crude oil inventories, gasoline stocks, and distillate fuels, which can impact the prices of these commodities and the financial performance of companies involved in their production and distribution. This information is relevant to investors and traders in the energy sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
Move Size: No market move size mentioned.
Sector: Energy
Direction: Up
Magnitude: Medium
Affected Instruments: Stocks, Commodities

Reported publicly: www.marketwatch.com