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Analysts Say, US Crude Oil Stockpiles to Fall

According to a survey, all analysts and traders expect the US crude oil Stockpiles to decline from the previous week in statistics due Wednesday from the US Energy Department. According to 11 analysts and traders, US oil Stockpiles are expected to have decreased by 4.1 million barrels in the week ending June 18, with projections ranging from 1.1 million to 7 million barrels.

The Energy Information Administration of the Department of Energy is set to release a carefully awaited study at 10:30 a.m. ET on Wednesday. According to estimates, gasoline Stockpiles are likely to climb by 800,000 barrels from the previous week. Estimates range from a 2.6 million barrel drop to a 3 million barrel rise.

Analysts Say, US Crude Oil Stockpiles to FallDistillate stocks, which comprise heating oil and diesel, are predicted to climb by 600,000 barrels this week compared to the previous week. Forecasts range from a 2 million barrel decline to a 2 million barrel rise. Refinery capacity was likely increased by 0.5 percentage point to 93.1 percent. Forecasts range from a 0.5-percentage-point fall to a 1.1-percentage-point increase. Two analysts failed to give a prediction.

According to a survey of analysts and traders conducted by The Wall Street Journal, all analysts and traders expect the US crude oil Stockpiles to decline from the previous week in statistics due Wednesday from the US Energy Department. According to 11 analysts and traders, US oil Stockpiles are expected to have decreased by 4.1 million barrels in the week ending June 18, with projections ranging from 1.1 million to 7 million barrels. The Energy Information Administration of the Department of Energy is set to release a carefully awaited survey at 10:30 a.m. EDT on Wednesday.

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