Canadian Propane Inventories Rise 6.8% in June

Canadian underground propane inventories in June climbed 6.8% to post a month-over-month increase of 87.0 Mcm, according to the National Energy Board (NEB). As of July 1, stocks stood at 1368.6 Mcm, the equivalent of 8.6 MMbbl. Compared to a year earlier, volumes were higher by a sharp 30.7%, advancing 321.2 Mcm.

Despite those overall gains, propane storages in the West dipped 0.1%, or 1.1 Mcm, in June to stand at 771.9 Mcm—4.9 MMbbl—as July arrived. However, compared to a year ago inventories were up 29.2%, or by 174.5 Mcm. In the East, stocks rose a healthy 17.3%, or 88.1 Mcm, to end June at 596.7 Mcm—3.8 MMbbl. That volume was 32.6%, or 146.7 Mcm, higher than last year.

Canadian butane inventories began July at 814.1 Mcm, up 12.2%, or 88.5 Mcm, for the month and 16.3%, or 113.8 Mcm, above last year. Western butane storages added 36.1 Mcm in June and climbed 8.4% to 466.5 Mcm. Eastern supplies grew 52.4 Mcm, or 17.8%, and began July at 347.6 Mcm. Compared to last year, butane in the West was 117.4 Mcm, or 33.6% higher, while in the East volumes showed a 3.6 Mcm decline and slipped 1.0%.