Analysts expect an increase in U.S. crude oil inventories

A survey shows that U.S. crude oil inventories are expected to rise for the third consecutive week, while gasoline and distillate inventories are expected to decline. According to the average estimates of eight analysts and traders, U.S. commercial crude oil inventories are expected to increase by 1.1 million barrels to 440.4 million barrels in the week ending March 6. Six of them expect an increase, while two predict a decrease, with estimates ranging from an increase of 3.9 million barrels to a decrease of 420,000 barrels. Gasoline inventories are expected to decrease by 1.8 million barrels to 251.3 million barrels, with estimates ranging from an increase of 200,000 barrels to a decrease of 4.8 million barrels. Distillate inventories, mainly diesel, are expected to decrease by 500,000 barrels to 120.3 million barrels, with estimates ranging from an increase of 280,000 barrels to a decrease of 270,000 barrels. The survey shows that refinery operating rates may rise slightly by 0.1 percentage points to 89.3%. The estimates range from an increase of 1 percentage point to a decrease of 0.8 percentage points. Two analysts did not forecast refinery operating rates.