Propane Inventories Jump 1.8 MMbbl
July 24, EIA noted that inventories stood 22.2 MMbbl, or 33.1%, higher than a year ago. Since the beginning of June, volumes in primary storage have climbed by more than 10.6 MMbbl, according to the agency. For the most recent reporting period, Gulf Coast stocks increased by 1.2 MMbbl, while the Midwest and East Coast both posted 0.2-MMbbl weekly advances. Rocky Mountain/West Coast regional supplies grew by 0.1 MMbbl. Propylene non-fuel-use inventories represented 5.6% of U.S. stocks, off from 5.8% the previous week.
Weekly propane production for the nation was pegged at 1.646 MMbbld by EIA, slightly under but little changed from a week earlier but approaching a 0.1-MMbbld improvement over last year. East Coast production was reported at 0.222 MMbbld, the Midwest 0.334 MMbbld, and the Gulf Coast 0.915 MMbbld. Although there was little variation week to week, East Coast production was virtually unchanged, while the Midwest and Gulf Coast dipped minimally. For the year, the East Coast and Midwest chipped in to make up the annual gain and Gulf Coast production slipped just fractionally.
Imports to the nation for the week stood at 0.063 MMbbld, barely lower than the prior week and rising only a bit above last year’s total. The East Coast received 0.020 MMbbld and the Midwest 0.032 MMbbld. U.S. propane demand the week ended July 24 was set at 0.858 MMbbld by EIA, down 0.25 MMbbld from a week earlier and off nearly 0.1 MMbbld from a year ago.
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