AHEAD OF THE BELL

Crude reserves build expected

[February 04, 2010]  NEW YORK (AP) -- The Energy Department will likely report a 2.8 million-barrel build in crude oil reserves on Thursday for the week ended Jan. 15, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The Energy Information Administration releases its weekly report at 11:00 a.m. EST.

Platts also expects gasoline stockpiles to rise by 2.1 million barrels, distillate stocks to climb by 1.1 barrels and refinery utilization to decrease 0.9 percentage point to 80.4 percent.

A reading above or below estimates can influence market trading.

Last Wednesday, the EIA said for the week ended Jan.8 crude inventories rose by 3.7 million barrels to 331 million barrels; gasoline inventories rose by 3.8 million barrels to 223.5 million barrels; and distillate inventories rose by 1.4 million barrels to 160.4 million barrels.

Last week's crude oil figure exceeded the build of 1.9 million barrels analysts expected.

[Associated Press]

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