Canadian Inventories Mostly Down from October to November

Canada’s primary underground propane inventories decreased by 0.97% in November, according to Canada Energy Regulator. The total represented a month-to-month decrease of 19.7 Mcm. Compared to a year earlier, stocks were lower, with 413.6 Mcm, or 17.12%, less product on hand. 

Propane storages in the West started November a bit lower at 1003.5 Mcm, which corresponds to 6.322 MMbbl, the agency reported. From October to November, volumes decreased by 28.4 Mcm, or 2.75%, and were 476.8 Mcm less than the year prior’s level of 1480.3 Mcm, commensurate with 6.3 MMbbl. In the East, supplies began the month of November at 998.8 Mcm, commensurate with 6.3 MMbbl. This gain put propane 8.9 Mcm, or 0.9%, higher for the month, with an increase of 63.3, or 6.77% a year earlier. 

Canadian butane inventories stood at 885.7 Mcm at the beginning of November, for a decrease of 86.8 Mcm, or 8.93%, from October. Like propane, the year-over-year comparison finds butane volumes to be lower than the prior year’s total, with inventories 541.6 Mcm, or 37.95%, below 2020. Western butane supplies, at 494.2 Mcm, were lower by 35.4 Mcm, or 6.68%, from the previous months and were 541.4 Mcm, or 52.28%, less than last year. Eastern butane, at 391.6 Mcm, was 51.4 Mcm, or 11.60%, lower month over month, and was flat year over year. 

Source: Canada Energy Regulator