The split in expert opinion remains sharp, reflecting ongoing market volatility. While the average estimate points to a modest drawdown, individual forecasts vary wildly, ranging from a substantial 3.6 million barrel build to a 2.5 million barrel depletion. This divergence underscores the uncertainty surrounding current supply levels.
In section Market Quotes
U.S. Crude Inventories Expected to Edge Lower
A projected decline of 100,000 barrels in U.S. crude oil inventories this week suggests a cooling period for the market. Following three consecutive weeks of significant withdrawals, analysts surveyed by The Wall Street Journal anticipate a stabilizing trend as commercial stocks hover near 412.4 million barrels for the period ending October 23.
Downstream products are expected to follow the downward trend. Gasoline inventories are forecast to drop by 700,000 barrels, landing at 204.6 million, while distillate fuel stocks—primarily diesel—are anticipated to fall by 1.1 million barrels to 103.2 million. Meanwhile, refinery capacity utilization appears poised to remain steady at 93.4%. The official data from the U.S. Energy Information Administration is expected Wednesday at 10:30 a.m. EDT.
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