Canadian Propane, Butane Inventories Climbed in July 2020

Canada’s primary underground propane inventories rose 39.7% in July to begin August at 2046.6 Mcm, the equivalent of 12.9 MMbbl, according to the Canada Energy Regulator (CER). The total represented a strong month-to-month gain of 581.2 Mcm. Compared to a year earlier, stocks were up a staggering 976.5 Mcm, or 91.3%.

Propane storages in the West began August at 1285.5 Mcm, which corresponds to 8.1 MMbbl, the agency reported. During July, volumes jumped 412.6 Mcm, or 47.3%, and ended 583.0 Mcm, or 83.0%, greater than a year earlier. Supplies in the East began August at 761.1 Mcm, commensurate with 4.8 MMbbl. This sharp advance put propane 168.6 Mcm, or 28.5%, higher for the month, and an even more impressive 393.4 Mcm, or 107.0%, greater than a year prior.

Canadian butane inventories stood at 1275.5 Mcm at the beginning of August, for a 260.1 Mcm, or 25.6%, increase. Once again, a year-over-year comparison found current volumes have surpassed a year earlier’s total. Butane volumes have grown by 356.8 Mcm, or 38.8%. Western butane supplies, at 831.5 Mcm, were 167.4 Mcm, or 25.2%, higher than the previous month, and 306.6 Mcm, or 58.4% higher than last year. Eastern butane, at 444.0 Mcm, added 92.6 Mcm, or 26.4%, month over month, and a 50.2 Mcm, or 12.7%, more than a year earlier.

SOURCE: The Weekly Propane Newsletter, August 27, 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.