Ahead of the Bell: Oil supplies expected to fall
NEW YORK (AP) — The Energy Department is expected to report on Friday that the nation's crude oil supplies dropped by 2 million barrels in the week ended Dec. 21, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.
Analysts estimate that gasoline supplies increased by 250,000 barrels, distillate stocks — which include diesel and heating fuel — decreased by 350,000 barrels and refinery utilization rose by 0.1 percentage point to 91.6 percent of capacity.
The Energy Information Administration releases its weekly report at 11:00 a.m. EST. The report comes out two days later than usual because of the Christmas holiday.