Canadian Inventories Increase from June to July 2022

Canada’s primary underground propane inventories increased by 34.57% in July, according to the Canada Energy Regulator (CER). The total represented a month-to-month increase of 302.9 Mcm. Compared to a year earlier, stocks were lower, with 330.1 Mcm, or 21.87%, less product on hand. 

Propane storages in the West started July a bit higher at 787.2 Mcm, which corresponds to 4.959 MMbbl, the agency reported. From June to July, volumes increased by 177.6 Mcm, or 29.13%, and were 26.4 more than the year prior’s level of 760.8 Mcm. Propane storages in the East started July higher at 391.9, commensurate with 2.46897 MMbbl. This gain put propane 125.3 Mcm, or 47.00%, higher for the month, with a decrease of 356.5, or -47.63% below a year earlier. 

Canadian butane inventories stood at 1041.1 Mcm at the beginning of July, for an increase of 220.9 Mcm, or 26.93%, from June. Like propane, the year-over-year comparison finds butane volumes to be higher than the prior year’s total, with inventories 133.6 Mcm, or 14.72%, above 2021. Western butane supplies, at 653.9 Mcm, were higher by 77.4 Mcm, or 13.43%, from the previous months and were 99 Mcm, or 17.84%, more than last year. Eastern butane, at 387.2 Mcm, was 143.5 Mcm, or 58.88%, higher month over month, and totaled 34.6 Mcm, or 9.81%, above a year earlier. 

Source: Canada Energy Regulator