US Propane Stocks Rise

HOUSTON (DTN) -- The Energy Information Administration today reported U.S. inventories of propane/propylene increased about 3.3 million barrels (bbl) in the week ended June 14 to 74.5 million bbl with stocks up in all major regions of the country except for the Rocky Mountain states.

At 74.5 million bbl on June 14, domestic propane/propylene inventories were up 20.4 million bbl, or 37.7%, from the same time in 2018 and about 16% above the five-year average for the same time of year, EIA data shows.

East Coast PADD 1 propane/propylene inventories climbed 1.2 million bbl during the week at 3.7 million bbl, which was up 400,000 bbl or 9.3% versus the year-ago level.

Propane/propylene inventories increased by about 1.1 million bbl during the week in both Gulf Coast PADD 3 and Midwest PADD 2, with the former at 48.2 million bbl and the latter at 19.1 million bbl, EIA data shows. Versus the same time in 2018, Gulf Coast PADD 3 propane/propylene supplies are up 18.6 million bbl or 62.8% and Midwest PADD 2 stocks up 1.4 million bbl or 7.9%.

EIA data shows U.S. propane/propylene exports in the week ended June 14 at 1.208 million barrels per day (bpd), up from 1.012 million bpd in the week prior. Four-week average exports were at 1.139 million bpd compared with 854,000 bpd in the same period in 2018.

U.S. propane/propylene imports were at 110,000 bpd during the week, down from 149,000 bpd in the week prior. Four-week average imports were at 121,000 bpd versus 107,000 bpd in the same period last year.

Propane/propylene inventories in PADDs IV and V, which include the Rocky Mountain and West Coast regions, were unchanged in the week-ended June 14 at 2.4 million bbl, which was down 100,000 bbl, or 4%, versus the year-ago level.

Agency data showed implied demand for propane/propylene at 602,000 bpd, which compared with 906,000 bpd in the week prior and 548,000 bpd in the same week last year. Four-week average implied demand was at 812,000 bpd versus 736,000 bpd in the same period last year.

EIA reported refiner and blender net production of propane/propylene for the week ended June 14 at 2.175 million bpd, which was down 2,000 bpd from a record-high 2.177 million bpd the week prior but up 248,000 bpd, or 12.9%, from the year-ago level.

(AG)

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