Market participants anticipate a broader tightening of energy supplies, with gasoline and distillate stocks also trending downward. Projections for gasoline inventories suggest a 1.3 million barrel draw, while distillate fuels—primarily diesel—are expected to fall by 1.1 million barrels. These estimates reflect a consistent pattern of high demand and sustained refinery activity across the sector.
In section Market Quotes
U.S. Crude Inventories Poised for Ninth Weekly Drop
Commercial crude oil stockpiles in the United States are expected to shrink for the ninth consecutive week, as refinery operations remain near peak capacity. Analysts surveyed by The Wall Street Journal project a decline of 4.1 million barrels, bringing national inventories to 414.1 million barrels for the week ending June 19.
Refinery capacity utilization is forecasted to hold steady at 96.7%. While individual estimates from the nine surveyed analysts and traders vary, the consensus points toward a sustained period of inventory depletion. The official data from the U.S. Energy Information Administration is expected to provide clarity on these projections when the report is released on Wednesday at 10:30 a.m. EDT.
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