Canadian Inventories Increase From May to June

Canada’s primary underground propane inventories increased by 10.49% in June, according to the Canada Energy Regulator. The total represented a month-to-month increase of 75.2 Mcm. Compared to a year earlier, stocks were lower, with 83.9 Mcm, or 9.58%, less product on hand. 

Propane storages in the West started June a bit higher at 554.6 Mcm, which corresponds to 3.494 MMbbl, the agency reported. From May to June, volumes increased by 79.4 Mcm, or 16.71%, and were 55 less than the year prior’s level of 609.6 Mcm.  

Propane storages in the East started June lower at 237.7, commensurate with 1.498 MMbbl. This loss put propane 4.2 Mcm, or 1.74%, lower for the month, with a decrease of 28.9, or 10.84% below a year earlier. 

Canadian butane inventories stood at 777.2 Mcm at the beginning of June, for an increase of 57.4 Mcm, or 7.97%, from May. Like propane, the year-over-year comparison finds butane volumes to be lower than the prior year’s total, with inventories 43 Mcm, or 5.24%, below 2022.  

Western butane supplies, at 509.8 Mcm, were higher by 15.8 Mcm, or 3.20%, from the previous months and were 66.7 Mcm, or 11.57%, less than last year. Eastern butane, at 267.4 Mcm, was 41.5 Mcm, or 18.37%, higher month over month, and totaled 23.7 Mcm, or 9.73%, above a year earlier.