The anticipated drop would bring commercial crude stocks down to 423 million barrels. Market expectations remain varied, with forecasts for the withdrawal ranging from 971,000 to 6.3 million barrels. This downward trajectory reflects a broader trend of tightening supply as refineries maintain elevated activity levels.
In section Market Quotes
U.S. Crude Inventories Poised for Eighth Straight Weekly Decline
Persistent refinery demand and robust export activity are driving U.S. crude oil stockpiles lower for the eighth consecutive week. Analysts surveyed by The Wall Street Journal project a commercial inventory draw of 3.5 million barrels for the week ending June 12, as the energy sector sustains high operational throughput.
Gasoline and distillate inventories are also expected to see reductions. Analysts estimate a 1.5-million-barrel decrease in gasoline stocks to 213.6 million barrels, while distillate supplies—primarily diesel—are forecast to fall by 900,000 barrels to 101.2 million. Refinery capacity utilization is projected to tick upward by 0.1 percentage point, reaching 95.4%. The U.S. Energy Information Administration will confirm these figures on Wednesday at 10:30 a.m. EDT.
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