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OUTLOOK US crude, gasoline and distillate stocks seen falling last week

LONDON (Thomson Financial) - US crude oil, gasoline and distillate stocks are expected to have fallen last week, according to analysts polled by Thomson Financial News.

The analysts expect today's weekly inventory data from the Energy Information Administration (EIA) will show crude oil stocks fell by an average 1.8 mln barrels in the week to Nov 2, as imports fell because of the disruption caused by severe storms in the Gulf of Mexico.

Last week, crude stocks posted a surprise sharp decline, which pushed prices up to fresh record highs in both New York and London.

Elsewhere, analysts expect gasoline stocks fell by 100,000 barrels last week while distillates, which include the key winter heating oil fuel, fell by 200,000 barrels.

They also predict that refinery operating capacity will rise by 0.6 percentage points to 86.8 pct, although the increase will not be enough to bump up stocks of distillates and gasoline.

The weekly EIA report normally has a significant impact on crude oil price direction.

The EIA will release the data at 3.30 pm London time today.

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