DRAWDOWN SEEN IN U.S. DISTILLATE STOCKS Tonight's American Petroleum Institute oil inventory report is expected to show another drawdown in distillate stocks of between two and 7.5 mln barrels for the week ending March 20, oil analysts and traders said. They said they expect gasoline inventories to be depleted by about one to four mln barrels. Analysts were divided on the crude stocks. Some saw stocks unchanged to as much as three mln barrels higher. Others said stocks could be down one to five mln barrels. Crude throughput volumes are expected to be unchanged to slightly higher or lower than the week ended March 13, traders said. The API recorded a 7.4 mln barrel stockdraw for U.S. distillates in the week ended March 13. Analysts see another draw reflecting historic seasonal trends. For the week ended March 13, API reported gasoline stocks down 2.9 mln barrels. Those expecting a draw of as much as four mln barrels said they are looking for fairly high consumption rates as the spring and summer driving season gets underway this year, because retail prices are still low compared to recent years. U.S. crude oil stocks were reported down by 4.4 mln barrels for the week ended March 13. Analysts are divided over the outcome for last week because there is uncertainty about whether throughput levels increased or decreased last week. Some see crude stock levels unchanged to three mln barrels higher, while others think inventories could be as much as five mln barrels below the previous week. The lower estimates are supported by the belief that crude runs increased and imports fell. The API reported crude runs 154,000 b/d higher for the week ended March 13. Analysts are calling it unchanged to slightly up or down for the week ended March 20. Expectations for product stockdraws are already being reflected in firmer prices, traders said. But if draws are at the higher end of the estimated range, they added, the effect will be bullish. Any stockbuild would be a negative factor, they said. Crude runs normally increase in March, and any decrease in runs would be friendly to the market, said Peter Beutel of Elders Energy Futures Inc.