Wednesday, September 13, 2006 10:28:59 AM
Petroleum inventory data is due at 10:30 E.T, according to Bloomberg survey, analysts believe distillate fuel inventories rose 2.0 mln during the week ending Sept 9th; 14 analyst expectations range from inventories being unchanged to a build of 3.0 mln; last year saw a 1.105 mln draw in distillate fuel inventories during this period; 4 week avg is a build of 1.88 mln barrels... Analysts believe that gasoline inventories rose 200K barrels; expectations range from a draw of 2.0 mln to a build of 2.0 mln (Analysts are split down the middle with 7 expecting a draw and 7 a build; prior year was a build of 1.892 mln)... Analysts believe crude oil inventories fell 2.0 mln; analyst estimates range from a draw of 3.4 mln barrels to a build of 1.1 mln (12 of the 15 analysts expecting a draw with the 1.1 mln build estimate being an outlier). Bloomberg expects capacity utilization to be approx 93.6%, compared to 87.3% from year ago (lower capacity utilization was due to Katrina)... Briefing.com note: Focus will start to switch from gasoline to distillate fuel as the summer driving season comes to an end and the winter heating season looms closer. September and October also tend to be big maintenance months for refiners as they try and take advantage of the period between gasoline and heating oil demand.
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