SunSirs: U.S. Crude Oil and Refined Product Inventories Expected to Decline
May 12 2026 09:57:44 SunSirs (Selena)
A preliminary survey released on Monday indicates that U.S. crude oil inventories likely fell last week, while stocks of both distillate fuels and gasoline are also expected to have declined. On average, four analysts forecast that U.S. crude oil inventories decreased by approximately 1.7 million barrels for the week ending May 8. Gasoline inventories are projected to have fallen by 2.6 million barrels, while distillate fuel inventories—including diesel and heating oil—are expected to have dropped by about 3 million barrels.
The projected 1.7 million-barrel reduction in U.S. crude oil inventories for the week ending May 8—coupled with expected declines in both gasoline and distillate stocks—reflects improving downstream demand for crude oil. This provides positive support for both spot and futures crude oil prices, constituting a moderately bullish factor.
The expected decline in distillate fuels—a category that includes products such as diesel and heating oil—bears a strong correlation with the demand dynamics for fuel oil. Consequently, the anticipated drawdown in these inventories is expected to provide a modest boost to fuel oil prices.
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