Canadian Inventories Advance 7.2% in May

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Canadian underground propane inventories in May rose 7.2% for a month-over-month increase of 86.5 Mcm, according to the National Energy Board (NEB). As of June 1, stocks stood at 1281.6 Mcm, the equivalent of 8.1 MMbbl. Compared to a year earlier, volumes were up a sharp 84.1%, or by 585.6 Mcm.

During May, propane storages in the West barely edged up, rising just 0.1%, or 0.8 Mcm, to end the month at 773.0 Mcm, or 4.9 MMbbl. However, compared to a year earlier, levels were steeply higher and jumped 87.2%, or by 360.0 Mcm. In the East, inventories posted a 20.3%, or 85.7 Mcm, gain in May, bringing the total to 508.6 Mcm, the equivalent of 3.2 Mcm. Compared to a year earlier, stocks were 79.7%, or 225.6 Mcm, higher.

Canadian butane stocks ended May at 725.6 Mcm after rising 11.8%, or 76.8 Mcm, over the month. Compared to the previous year, inventories were up 16.1%, or by 100.6 Mcm. Western butane added 38.8 Mcm for a 9.9% monthly gain, and as of June 1 stocks stood at 430.4 Mcm. Eastern storages climbed 38.0 Mcm for a 14.8% increase and ended May at 295.2 Mcm. For the year, butane in the West was up 53.1%, or by 149.2 Mcm, while in the East inventories fell 14.1%, or by 48.6 Mcm.

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