U.S. Crude Inventories Expected to Shrink for Third Straight Week

The average estimate from seven analysts and traders suggests total crude stocks will settle at 422.7 million barrels. Projections remain varied, with individual forecasts ranging from a modest 568,000-barrel decrease to a more aggressive 2 million-barrel drop. This tightening of supply comes as refinery capacity utilization is forecast to dip by 0.6 percentage points to 97.2%.

Downstream products are also showing signs of contraction. Gasoline inventories are expected to fall by 800,000 barrels, bringing levels to 206.1 million barrels, while distillate fuel stocks—primarily diesel—are projected to hold steady at 106.3 million barrels. The U.S. Energy Information Administration will confirm these figures during its scheduled release at 10:30 a.m. ET.