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The crude stocks in US will rise as expected by the analysts polled in the Thomson Financial news last week because of the low refinery utilization rates; created a bottleneck in the process of the gasoline production.
There are an estimated 900,000 barrels of crude and an increase of 800,000 gasoline stocks, in the capacity of refinery rates will be up to 0.9% to 88.5% points and still below the average this time of year in the week until June 22. There is an expected122.7 million barrels left in the distillate stocks.
Harry Tchilinguirian, BNP Paribas analyst said "the oil stats in US for this week has already ended last June 22 point to a build in the crude oil stocks as the limited refinery sags its scope in rising crude oils."
The release of the weekly report will be shown by the Department of Energy’s statistical arm and Energy Information Administration of US today at 3.30 pm BST.
The data last week showed a large crude builds and rising of gasoline stocks as opposed in the prediction of small increase in the oil pricings.
The gasoline supply shortage could be underpinned by the concerns in prices as the refinery outages has restricted the ability of US in producing an enough motor fuel in the peak demand of summer driving season to kick of to high gear.
The pricing of Brent is nearly 70 US dollars, lessened from 72.25 US dollars that hit last week. New York prices are nearly 68 US dollars.
12:55
Posted on Jun-27-2007
