Canadian Inventories Remain Strong

Propane storages in the West began November down a bit at 1388.9 Mcm, which corresponds to 8.8 MMbbl, the agency reported. During November, volumes decreased by 91.4 Mcm, or 6.2%, but once again ended at better than double the year prior’s level of 664.8 Mcm, for an outstanding 724.1, or 108.9%, gain. In the East, supplies started December at 918.5 Mcm, commensurate with 5.8 MMbbl. This slight decline put propane 17.0 Mcm, or 1.8%, lower for the month, but a major increase of 529.9 Mcm, or 136.4%, above a year earlier.

Canadian butane inventories stood at 1301.4 Mcm at the beginning of December, for a loss of 125.9 Mcm, or 8.8%, from a month earlier. The year-over-year comparison finds current volumes continue to be more than double the prior year’s total. Butane volumes have increased by 660.2 Mcm, a strong 103.0%. Western butane supplies, at 958.9 Mcm, were 76.7 Mcm, or 7.4%, less than the previous month, and 587.0 Mcm, or a whopping 157.8%, above last year. Eastern butane, at 342.4 Mcm, fell 49.2 Mcm, or 12.6%, month over month, but totaled 73.0 Mcm, or 27.1%, above a year earlier.

SOURCE: The Weekly Propane Newsletter, December 23, 2020. Weekly Propane Newsletter subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.