Wednesday, March 25, 2020
Canada’s primary underground propane inventories fell 13.0% in February to 395.4 Mcm, the equivalent of 2.5 MMbbl, according to the Canada Energy Regulator (CER). The draw represented a month-to-month loss of 59.3 Mcm. Compared to a year earlier, stocks stood 166.1 Mcm lower, off 29.6%.
Propane storages in the West began March at 243.5 Mcm, which corresponds to 1.5 MMbbl, the agency reported. Volumes declined 23.4 Mcm, or 8.8%, over February and ended 223.9 Mcm, or 47.9%, under last year. Supplies in the East began March at 151.9 Mcm, commensurate with 1.0 MMbbl. That level marked a drop of 26.3 Mcm, or 14.8%, for the month, but a gain of 57.8 Mcm, or 61.4%, for the year.
Canadian butane inventories stood at 282.5 Mcm at February’s close, reflecting a 5.1% draw on stocks that settled 15.1 Mcm lower. A year-over-year comparison showed volumes down 69.1%, or by 632.5 Mcm. Western butane supplies, at 218.3 Mcm, were 10.5%, 20.8 Mcm ahead of the previous year. Eastern butane, at 64.2 Mcm, decreased by 36.0 Mcm, or 35.9%, month over month to stand 165.8 Mcm, or 72.1%, below the prior year.
Recapping the CER report:
SOURCE: The Weekly Propane Newsletter, March 26, 2020. Subscribe to receive the latest posted and spot prices from all major terminals and refineries around the U.S., featuring a center spread of posted prices that includes hundreds of postings completely updated each week, market analysis, insightful commentary and more.)
Propane storages in the West began March at 243.5 Mcm, which corresponds to 1.5 MMbbl, the agency reported. Volumes declined 23.4 Mcm, or 8.8%, over February and ended 223.9 Mcm, or 47.9%, under last year. Supplies in the East began March at 151.9 Mcm, commensurate with 1.0 MMbbl. That level marked a drop of 26.3 Mcm, or 14.8%, for the month, but a gain of 57.8 Mcm, or 61.4%, for the year.
Canadian butane inventories stood at 282.5 Mcm at February’s close, reflecting a 5.1% draw on stocks that settled 15.1 Mcm lower. A year-over-year comparison showed volumes down 69.1%, or by 632.5 Mcm. Western butane supplies, at 218.3 Mcm, were 10.5%, 20.8 Mcm ahead of the previous year. Eastern butane, at 64.2 Mcm, decreased by 36.0 Mcm, or 35.9%, month over month to stand 165.8 Mcm, or 72.1%, below the prior year.
Recapping the CER report:
SOURCE: The Weekly Propane Newsletter, March 26, 2020. Subscribe to receive the latest posted and spot prices from all major terminals and refineries around the U.S., featuring a center spread of posted prices that includes hundreds of postings completely updated each week, market analysis, insightful commentary and more.)
