On Monday, a preliminary poll held by Reuters estimated the US crude stocks last week to fall for the sixth consecutive week, along with refined product inventories.
The Reuters poll forecast that the US crude inventories in the week to August 28 slumped by 2 million barrels to 507.8 million barrels. Gasoline inventories were also seen to drop, by 3.6 million barrels, to the fourth weekly fall. Distillate stockpiles were expected to slip by 1.5 million barrels.
The six analysts in the poll foresaw the country’s refinery utilization rate to fall by 7% week-on-week to 75%.
