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SMALL BUSINESS
Ahead of the Bell: Rise in crude reserves expected
AP
NEW YORK -The Energy Department will likely report a 1.4 million-barrel build in crude oil reserves on Wednesday for the week ended Nov. 20, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.
The Energy Information Administration releases its weekly report at 10:30 a.m. EST.
Platts also expects gasoline stockpiles to rise by 500,000 barrels, distillate stocks to remain flat from last week and refinery utilization to increase 0.4 percentage point to 79.84 percent.
A reading above or below estimates can influence market trading.
Last Wednesday, the EIA said for the week ended Nov. 13 crude inventories fell by 900,000 barrels to 336.8 million barrels; gasoline inventories fell by 1.7 million barrels to 209.1 million barrels; and distillate inventories fell by 300,000 barrels to 167.4 million barrels.
Last week's crude oil figure missed the build of 1.2 million barrels analysts expected.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-11-25 06:18:14
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