Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list

Analysis: US crude inventories likely higher last week on continued refinery maintenance

Commodities | Coal | LNG | Natural Gas | Natural Gas (North American) | Oil | Crude Oil | Steel | Shipping | Coronavirus

Market Movers Americas, Aug 3-7: Brent-WTI spread at widest since May


Platts Market Data – Oil

Capital Markets | Commodities | Oil | Crude Oil | Refined Products | Fuel Oil | Gasoline | Jet Fuel | Naphtha | Marine Fuels | Equities | Financial Services | Banking | Non-banks | Private Markets

North American Crude Oil Summit, 3rd annual

Electric Power | Renewables

ERCOT OKs 276 MW of generation – mostly solar – for commercial operation

Analysis: US crude inventories likely higher last week on continued refinery maintenance


Analysts on average look for 4.7-million barrel build

US crude exports to Europe fall

Harvest demand should bolster distillate demand

New York — US crude inventories likely climbed last week as refinery maintenance reduced demand while exports slipped, an S&P Global Platts analysis showed Monday.

Analysts polled by Platts were looking on average for US crude stocks to have risen by 4.7 million barrels, continuing a trend seen since early September as refiners have gone into fall maintenance.

US crude stocks have climbed 19 million barrels to since the week ending September 6 to 434.85 million barrels, according to the US Energy Information Administration.

A crude stock build will not necessarily be bearish for crude prices, as inventories typically build this time of year and begin to draw at the end of November once more refinery capacity has returned to service.

US refiners were operating at just 83.1% of capacity the week ending October 11, according to the EIA.

But refinery likely increased runs for the week ending October 18 as they began to exit maintenance.

A combined 2.52 million b/d of distillation capacity was down for maintenance the week ending October 11 in the US Midwest and US Gulf Coast, according to S&P Global Platts Analytics. By the week ending October 18 that figure had slipped to 2.2 million b/d, and by end-November just 153,000 b/d is expected to be down.

US crude production is expected to remain steady to higher, at roughly 12.6 million b/d, while crude imports are expected to have fallen last week. The EIA showed imports at 6.3 million b/d the week ending October 11, down from 7.6 million b/d the same week in 2018 as on heavy refinery maintenance and higher US output.

US crude exports likely fell last week, would could help to bolster crude inventories.

S&P Global Platts cFlow trade flow software shows USGC exports averaging 2.6 million b/d last week, down from the 3.3-million b/d reported by the EIA for the week ending October 11.

The decline was led by a fall in export to Europe, likely in response to a recent rise in freight rates.


With refinery runs remaining low, refined product inventories were expected to have drawn last week.

Analysts polled by Platts were on average looking for gasoline stocks to have fallen by 2 million barrels and distillate stocks to have fallen by 3 million barrels.

Distillate consumption in the Midwest likely climbed as farming activity picked up.

According to the US Department of Agriculture, just 22% of corn acreage has been harvested in 18 selected states as of October 13, down from 38% the same time last year, because of weather delays.

While harvesting in southern states, such as Texas and Tennessee, has been on par or even higher than last year, the Midwest has been especially hard hit by wintry weather. Just 23% of corn acreage has been harvested in Illinois as of October 13, down from 70% the same time in 2018, the USDA data shows.

US distillate stocks have tightened since mid-August. Inventories at 123.5 million barrels the week ending October 11 were 11% below the five-year average, according to the EIA.

Diesel stocks on the US Atlantic Coast at 33.63 million barrels were 26% below the five-year average, which is supportive for the New York-delivered NYMEX ULSD futures contract.

US gasoline inventories are well-supplied by comparison. Stocks at 226.2 million barrels the week ending October 11 were roughly 2% above the five-year average.

-- Jeff Mower,

-- Edited by James Bambino,