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The Energy Department will likely report a 2.5 million-barrel jump in crude oil reserves on Wednesday for the week ended April 10, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.
The Energy Information Administration releases its weekly report at 10:30 a.m. EST.
Platts also expects gasoline stockpiles to fall by 960,000 barrels, distillate stocks to fall by 1.1 million barrels and refineries to increase capacity by 0.15 percentage point to 81.95 percent.
A reading above or below estimates can influence market trading.
Last Wednesday, the EIA said for the week ended April 3 crude supplies increased by 1.7 million barrels to 361.1 million barrels; gasoline reserves rose by 600,000 barrels to 217.4 million barrels; distillate inventories fell by 3.4 million barrels to 140.8 million barrels; and U.S. refineries ran at 81.8 percent of total capacity on average, an increase of 0.1 percentage point from the prior week.
MHP$24.64-1.56%XOM$67.66-0.06%CVX$66.30-0.42%BP$39.210.05%EP$6.980.87%Get Quote
BATS Real-Time Market Data by XigniteLast week’s crude oil figure was shy of the 2.3 million-barrel build analysts expected.
After that report, crude for May delivery rose as high as $51.30 a barrel on the New York Mercantile Exchange. But prices eventually fell, settling up 23 cents at $49.38
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