U.S. Crude Inventories Poised for Seventh Consecutive Weekly Decline

Commercial crude stocks are projected to hit 430.8 million barrels as market participants weigh forecasts ranging from a modest 1.4 million barrel draw to a sharper 7.1 million barrel decline. This tightening supply landscape coincides with a projected 600,000-barrel dip in gasoline inventories and a 500,000-barrel drop in distillate fuel stocks, which include diesel.

Refinery utilization remains a critical factor in these figures, with capacity usage likely inching up to 94.8%. While individual estimates vary—with some analysts predicting a slight retreat in processing activity—the consensus points toward sustained industrial output. The Energy Information Administration is set to provide the definitive data on Wednesday at 10:30 a.m. EDT, offering a clearer picture of whether these market expectations align with actual storage levels.