Canadian Inventories Increase from May to June 2022

Canada’s primary underground propane inventories increased by 60.33% in June, according to the Canada Energy Regulator. The total represented a month-to-month increase of 336.4 Mcm. Compared to a year earlier, stocks were lower, with 225.5 Mcm, or 20.14%, less product on hand. 

Propane storages in the West started June a bit higher at 627.4 Mcm, which corresponds to 3.953 MMbbl, the agency reported. From May to June, volumes increased by 189.8 Mcm, or 43.37%, and were 1.70 less the year prior’s level of 629.1 Mcm. Propane storages in the East started June higher at 266.6, commensurate with 1.67958 MMbbl. This gain put propane 146.7 Mcm, or 122.35%, higher for the month, with a decrease of 223.8, or 45.64%, below a year earlier. 

Canadian butane inventories stood at 717.2 Mcm at the beginning of June, for an increase of 137.6 Mcm, or 23.74%, from May. Like propane, the year-over-year comparison finds butane volumes to be lower than the prior year’s total, with inventories 128.8 Mcm, or 15.22%, below 2020. Western butane supplies, at 473.5 Mcm, were higher by 35.8 Mcm, or 8.18%, from the previous months and were 75.8 Mcm, or 13.80%, less than last year. Eastern butane, at 243.7 Mcm, was 101.8 Mcm, or 71.74%, higher month over month, and totaled 53.1 Mcm, or 17.89%, below a year earlier. 

Source: Canada Energy Regulator