Canadian Propane and Butane Inventories Rose in March

Canada’s primary underground propane inventories rose 4.3% in March to 412.3 Mcm, the equivalent of 2.6 MMbbl, according to the Canada Energy Regulator (CER). The total represented a month-to-month gain of 16.9 Mcm. Compared to a year earlier, stocks were 3.1 Mcm, or 0.8%, higher.

Propane storages in the West began April at 286.0 Mcm, which corresponds to 1.8 MMbbl, the agency reported. During March, volumes rose 42.5 Mcm, or 17.5%, but ended 64.2 Mcm, or 18.3%, below a year earlier. Supplies in the East began April at 126.3 Mcm, commensurate with 0.8 MMbbl. That level marked a drop of 25.6 Mcm, or 16.9%, for the month, but an impressive gain of 67.3 Mcm, or 114.1%, from a year prior.

Canadian butane inventories stood at 354.1 Mcm at the beginning of April, reflecting a 71.6 Mcm, or 25.3% gain. A year-over-year comparison showed current volumes are off 54.4%, or by 422.2 Mcm. Western butane supplies, at 265.1 Mcm, were 46.8 Mcm, or 21.4%, ahead of the previous month, but 342.7 Mcm, or 56.4%, behind last year. Eastern butane, at 89.0 Mcm, was 24.8 Mcm, or 38.6%, higher month over month, but down by 79.5 Mcm, or 47.2%, from a year earlier.

SOURCE: The Weekly Propane Newsletter, April 30, 2020. 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.