On Monday, a poll conducted by Reuters estimated the US crude inventories to go lower while the distillate stockpiles were seen to rise.
For the week ended July 10, the country’s crude stocks were expected to drop by 2.3 million barrels after rising by 5.7 million barrels in the previous week.
Distillate inventories were seen to rise by 1.5 million barrels, likely to be the highest since 1983.
The refinery utilization rate was predicted to go up by 0.4% week-on-week last week from 77.5% in the previous week.
