Canadian Inventories Barely Changed

Canadian underground inventories increased just 0.5%, or 9.3 Mcm, in October to stand at 1905.9 Mcm, the equivalent of 12 MMbbl, as of Nov. 1, according to the National Energy Board (NEB). The slight build followed inventories rising 6.7% in September. Compared to October 2013, Canada’s propane supplies were 50%, or 634.9 Mcm, higher.

Propane storages in the West rose 0.3%, representing an addition of 2.9 Mcm over the month and began November at 1065.5 Mcm—6.7 MMbbl. Volumes stood a marked 42.7%, or 318.8 Mcm, above the previous year. In the East, stocks grew 0.8%, or by 6.4 Mcm, and reached 840.5 Mcm—5.3 MMbbl. Year over year, volumes were 60.3%, or 316.3 Mcm, higher than a year prior.

Canadian butane inventories, at 934.1 Mcm as of Nov. 1, dipped 3.1%, or 30.2 Mcm, in October. Nonetheless, that total was 5.2%, or 46.0 Mcm, above last year at the same time. Western butane storages climbed 8.7%, or 39.4 Mcm, and stood at 492.5 Mcm as November arrived. Eastern stocks, at 441.6 Mcm at month’s end, declined 13.6%, or 69.6 Mcm. Compared to a year ago, butane in the West was down 11.4%, or 63.6 Mcm, while in the East supplies were up 33%, or by 109.6 Mcm.