Canadian Inventories Decrease From November to December

Canada’s primary underground propane inventories decreased by 11.56% in December, according to the Canada Energy Regulator. The total represented a month-to-month decrease of 210.3 Mcm. Compared to a year earlier, stocks were lower, with 73.4 Mcm, or 4.36%, less product on hand.

Propane storages in the West started December a bit lower at 1019.7 Mcm, which corresponds to 6.424 MMbbl, the agency reported. From November to December, volumes decreased by 118.3 Mcm, or 10.40%, and were 24.5 more the year prior’s level of 995.2 Mcm.

Propane storages in the East started December lower at 590, commensurate with 3.717 MMbbl. This loss put propane 91.9 Mcm, or 13.48%, lower for the month, with a decrease of 97.8, or 14.22% below a year earlier.

Canadian butane inventories stood at 839 Mcm at the beginning of December, for a decrease of 171.3 Mcm, or 16.96%, from November. Like propane, the year-over-year comparison finds butane volumes to be lower than the prior year’s total, with inventories 290.6 Mcm, or 25.73%, below 2022.

Western butane supplies, at 502.9 Mcm, were lower by 42.7 Mcm, or 7.83%, from the previous months and were 163.9 Mcm, or 24.58%, less than last year. Eastern butane, at 336.1 Mcm, was 128.6 Mcm, or 27.67%, lower month over month, and totaled 126.8 Mcm, or 27.39%, below a year earlier.