U.S. Crude Inventories Seen Down Last Week, Products Likely Rose

Seven analysts polled by Reuters estimated on average that crude inventories fell by about 2.7 million barrels in the week to Dec. 22.

The poll was conducted ahead of reports from the American Petroleum Institute industry group, due at 4:30 p.m. EST (2130 GMT) on Wednesday, and the Energy Information Administration, the statistical arm of the U.S. Department of Energy, due at 11:00 a.m. EST (1600 GMT) on Thursday, delayed by a day due to the Christmas holiday on Monday.

Crude inventories rose by 2.9 million barrels in the week to Dec. 15 to 443.7 million barrels, compared with analysts’ expectations in a Reuters poll for a 2.3 million-barrel drop.