Sunday, January 11, 2015
U.S. propane stocks fell by 1.6 MMbbl the week ended Jan. 2 to stand at 75.7 MMbbl, according to the Energy Information Administration's (EIA) latest "This Week in Petroleum" report. The draw left volumes 33.2 MMbbl, or 78.3%, higher than a year ago. The Gulf Coast gave up 1.1 MMbbl and the Midwest 0.4 MMbbl. Rocky Mountain/West Coast regional inventories declined by 0.1 MMbbl, while East Coast supplies gained 0.1 MMbbl. Propylene non-fuel-use stocks represented 4.8% of total propane inventories, inching up from 4.6% the previous week.
The most recent drop was preceded by a more modest 0.6 MMbbl draw the week ended Dec. 26, which brought stocks down to 77.2 MMbbl, 31.3 MMbbl, or 68.3%, higher than the corresponding week a year earlier. The Gulf Coast lost 1.1 MMbbl and the Rocky Mountain/West Coast region 0.1 MMbbl. Midwest inventories climbed 0.5 MMbbl, while the East Coast was unchanged.
For the most recent reporting period ended Jan. 2, U.S. propane production stood at 1.619 MMbbld, unchanged week over week and coming in nearly 0.15 MMbbd higher compared to the prior year. East Coast production was at 0.175 MMbbld, the Midwest 0.344 MMbbld, and the Gulf Coast 0.907 MMbbld. Although regional production was little changed for the week, the Midwest improved by just fractions, the Gulf Coast barely dipped, and the East Coast was virtually unchanged. For the year, the Midwest was up nearly 0.1 MMbbld, and the East Coast and Gulf Coast contributed minimally to the annual increase.
Imports to the nation were at a marginal 0.126 MMbbld, just fractionally higher from a week earlier and virtually unchanged for the year. The East Coast and Midwest each received 0.055 MMbbld. U.S. propane demand for the week stretched to 1.435 MMbbld, up nearly 0.17 MMbbld for the week but off about 0.3 MMbbld compared to last year.
The average U.S. residential propane price for the week ended Jan. 5 was 235.8 cents/gal., according to EIA, down a penny from a week earlier and 47.1 cents lower than last year. The New England residential average was reported to be 301.7 cents; Central Atlantic, 287.1 cents; Lower Atlantic, 299.7 cents; Midwest, 192.0 cents; Gulf Coast, 250.3 cents; and Rocky Mountain, 219.7 cents. EIA pegged the average U.S. wholesale price for the week at 58.9 cents/gal., down 3.9 cents week over week and down 109.7 cents from a year ago. The East Coast wholesale average was reported at 69.6 cents; Central Atlantic, 73.4 cents; Lower Atlantic, 63.8 cents; and Midwest, 54.7 cents.
The most recent drop was preceded by a more modest 0.6 MMbbl draw the week ended Dec. 26, which brought stocks down to 77.2 MMbbl, 31.3 MMbbl, or 68.3%, higher than the corresponding week a year earlier. The Gulf Coast lost 1.1 MMbbl and the Rocky Mountain/West Coast region 0.1 MMbbl. Midwest inventories climbed 0.5 MMbbl, while the East Coast was unchanged.
For the most recent reporting period ended Jan. 2, U.S. propane production stood at 1.619 MMbbld, unchanged week over week and coming in nearly 0.15 MMbbd higher compared to the prior year. East Coast production was at 0.175 MMbbld, the Midwest 0.344 MMbbld, and the Gulf Coast 0.907 MMbbld. Although regional production was little changed for the week, the Midwest improved by just fractions, the Gulf Coast barely dipped, and the East Coast was virtually unchanged. For the year, the Midwest was up nearly 0.1 MMbbld, and the East Coast and Gulf Coast contributed minimally to the annual increase.
Imports to the nation were at a marginal 0.126 MMbbld, just fractionally higher from a week earlier and virtually unchanged for the year. The East Coast and Midwest each received 0.055 MMbbld. U.S. propane demand for the week stretched to 1.435 MMbbld, up nearly 0.17 MMbbld for the week but off about 0.3 MMbbld compared to last year.
The average U.S. residential propane price for the week ended Jan. 5 was 235.8 cents/gal., according to EIA, down a penny from a week earlier and 47.1 cents lower than last year. The New England residential average was reported to be 301.7 cents; Central Atlantic, 287.1 cents; Lower Atlantic, 299.7 cents; Midwest, 192.0 cents; Gulf Coast, 250.3 cents; and Rocky Mountain, 219.7 cents. EIA pegged the average U.S. wholesale price for the week at 58.9 cents/gal., down 3.9 cents week over week and down 109.7 cents from a year ago. The East Coast wholesale average was reported at 69.6 cents; Central Atlantic, 73.4 cents; Lower Atlantic, 63.8 cents; and Midwest, 54.7 cents.
