Propane Inventories Down Slightly

For the first time since the week ended March 21, U.S. propane inventories registered a decline for the most recent reporting period ended Sept. 5, according to the Energy Information Administration (EIA) in its Sept. 10 “This Week in Petroleum” report. Though minimal, the 0.1-MMbbl dip interrupted a months-long spring/summer build. The current change still found stocks soaring above year-ago levels by 11.5 MMbbl for a 17.9% gain.

Regionally, as of EIA’s latest report, New England stocks were nearly 0.5 MMbbl above last year; Central Atlantic, slightly more than 1 MMbbl higher; Lower Atlantic, up 0.8 MMbbl; Midwest, 4 MMbbl above; Gulf Coast, a 4.7-MMbbl rise; and Rocky Mountain/West Coast, up 0.3 MMbbl.

EIA reports that as of Sept. 5, U.S. propane supplies stood at 76.0 MMbbl, off from 76.1 MMbbl week over week. That loss placed volumes 11.5 MMbbl above last year. Gulf Coast inventories dipped by 0.6 MMbbl, and the East Coast by 0.2 MMbbl. Meanwhile, Midwest stocks climbed by 0.6 MMbbl, while the Rocky Mountain/West Coast region was unchanged. Propylene non-fuel-use volumes represented 4.7% of total inventories, just down from 4.8% the previous week.
U.S. propane production for the week was at 1.6 MMbbl, posting just a marginal improvement for the week. East Coast production was at 0.186 MMbbld, the Midwest 0.306 MMbbld, and the Gulf Coast 0.920 MMbbld. Although there were no significant changes weekly, the East Coast and Gulf Coast rose slightly and the Midwest barely dipped. For the year, East Coast production was higher by about 0.1 MMbbld, while the Midwest and Gulf Coast were up minimally.

Imports to the nation stood at 0.114 MMbbld to register a sliver of a gain for the week. The East Coast received 0.017 MMbbld and the Midwest 0.091 MMbbld. U.S. propane demand stood at 1.35 MMbbld, 0.3 MMbbld higher than the prior week and coming in just above the year-ago total.