Projections for the week suggest commercial crude inventories will settle at 407 million barrels. While the consensus among nine analysts and traders points toward a decline, expectations remain split: seven participants forecast a drop, while two anticipate a build, with individual estimates spanning from a 4.3-million-barrel withdrawal to a 1.6-million-barrel increase.
In section Market Quotes
U.S. Crude Inventories Expected to Shrink for Eleventh Week
A steady drain on American oil reserves appears to be losing momentum. Analysts surveyed by The Wall Street Journal project that commercial crude-oil stockpiles fell by 1.4 million barrels for the week ending July 3, marking a deceleration in the drawdown pace that has defined the market for over two months.
Downstream products show mixed trends. Gasoline inventories are expected to dip by 1.3 million barrels to 212.7 million, while distillate fuel stocks—primarily diesel—are forecast to climb by 900,000 barrels to 109.5 million. Meanwhile, refinery capacity utilization is projected to edge down by 0.1 percentage point to 96.5%. The U.S. Energy Information Administration will provide the definitive figures on Wednesday at 10:30 a.m. EDT.
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