EIA report preview: U.S. crude inventories are expected to increase last week

Foreign power news on April 19, an in-depth survey released on Tuesday showed that U.
S.
crude oil inventories may increase last week, but distillate and gasoline inventories may fall.

On average, the nine analysts surveyed estimated that U.
S.
crude inventories would increase by about 2.
5 million barrels
in the week ended April 15.

The American Petroleum Institute (API) will release its crude oil inventory report on Wednesday at 4:30 Beijing time, and the US Energy Information Administration (EIA) will release its weekly crude oil inventory report
at 22:30 Beijing time on Wednesday.

U.
S.
crude inventories surged 9.
4 million barrels to 421.
8 million barrels in the week ended April 8, far exceeding market estimates of 863,000 barrels
, EIA data previously released.

Commercial crude inventories are likely to continue to climb in the coming weeks as the United States steadily releases oil reserves to cope with a possible Russian supply shortfall
.

Analysts estimated U.
S.
gasoline inventories fell by about 1 million barrels
last week, according to the survey.

Distillate inventories, including diesel and heating oil, are expected to fall by 800,000 barrels
last week.

Refinery capacity utilization is expected to increase by 0.
8 percentage points last week, after 90 percent
in the week ended April 8.