Canada's primary underground propane inventories decreased by 31.09% in March, according to the Canada Energy Regulator. The total represented a month-to-month decrease of 330.9 Mcm. Compared to a year earlier, stocks were higher, with 133.1 Mcm, or 22.18%, more product on hand.
Propane storages in the West started March a bit lower at 405.7 Mcm, which corresponds to 2.556 MMbbl, the agency reported. From February to March, volumes decreased by 168.5 Mcm, or 29.35%, and were 33.7 less than the year prior's level of 439.4 Mcm.
Propane storages in the East started March lower at 327.6, commensurate with 2.06388 MMbbl. This loss put propane 162.4 Mcm, or 33.14%, lower for the month, with an increase of 166.8, or 103.73% above a year earlier.
Canadian butane inventories stood at 656.1 Mcm at the beginning of March, for a decrease of 114.4 Mcm, or 14.85%, from February. Like propane, the year-over-year comparison finds butane volumes to be higher than the prior year's total, with inventories 189.5 Mcm, or 40.61%, above 2022.
Western butane supplies, at 458 Mcm, were lower by 18.9 Mcm, or 3.96%, from the previous month’s and were 62.4 Mcm, or 15.77%, more than last year. Eastern butane, at 198.1 Mcm, was 95.5 Mcm, or 32.53%, lower month over month, and totaled 127.1 Mcm, or 179.01%, above a year earlier.
Source: Canada Energy Regulator