National Petroleum Authority, Ghana

US crude oil inventories probably fell to a four-month low last week as imports declined and Tropical Storm Bonnie disrupted production in the Gulf of Mexico, a Bloomberg News survey showed. Stockpiles fell 1.75 million barrels, or 0.5%, in the seven days ended July 23 from 353.5 million the week earlier, according to the median of 11 analyst estimates before an Energy Department report tomorrow. The last time supplies were so low was March 19, when prices averaged $81.46 a barrel. Producers evacuated 15 rigs and 106 production platforms in anticipation of Bonnie, idling 52% of U.S. Gulf oil output, according to according to the U.S. Bureau of Ocean Energy Management, Regulation and Enforcement. The storm dissipated over the Gulf on July 24 without making landfall in the oil-producing region. About 27 percent of production remained shut-in yesterday. “We’ll see storm-related statistics because we’ll see delays in the shipping and delays in production,” said Carl Larry, president of Oil Outlooks and Opinions LLC in Houston. “The big delays are going to come from imports and maybe even carry over to next week.” Oil for September delivery settled at $78.98 a barrel Monday on the New York Mercantile Exchange, unchanged from July 23. It was at $79.07 as of 11:43 a.m. in London today. Prices have dropped 0.4% this year. The Gulf accounts for about 31% of U.S. oil output, according to the Energy Department.