Canadian Propane and Butane Inventories Climbed in June

Canada’s primary underground propane inventories rose 38.2% in June to begin July at 1465.4 Mcm, the equivalent of 9.2 MMbbl, according to the Canada Energy Regulator (CER). The total represented a significant month-to-month gain of 405.1 Mcm. Compared to a year earlier, stocks were up an impressive 647.4 Mcm, or 79.1%.
Canadian Propane Inventories Climbed in June 2020 chart reports BPN leading voice of propane industry
Propane storages in the West began July at 872.9 Mcm, which corresponds to 5.5 MMbbl, the agency reported. During June, volumes jumped 261.1 Mcm, or 42.7%, and ended 288.7 Mcm, or 49.4%, greater than a year earlier. Supplies in the East began July at 592.5 Mcm, commensurate with 3.7 MMbbl. This strong advance put propane 144.0 Mcm, or 32.1%, higher for the month, and an even more impressive 358.7 Mcm, or 153.4%, greater than a year prior.

Canadian butane inventories stood at 1015.4 Mcm at the beginning of July, for a 158.0 Mcm, or 18.4%, increase. Once again, a year-over-year comparison found current volumes have surpassed a year earlier’s total. Butane volumes have grown by 263.9 Mcm, or 35.1%. Western butane supplies, at 664.1 Mcm, were 130.1 Mcm, or 24.4%, higher than the previous month, and 205.4 Mcm, or 44.8% higher than last year. Eastern butane, at 351.4 Mcm, added 28.0 Mcm, or 8.7%, month over month, and a stronger 58.7 Mcm, or 20.1%, more than a year earlier.

SOURCE: The Weekly Propane Newsletter, July 30, 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.