U.S. Propane Inventories Gain Another 2.4 MMbbl

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U.S. propane stocks the week ended Aug. 7 jumped 2.4 MMbbl to reach 92.8 MMbbl, according to the Energy Information Administration’s (EIA) Aug. 12 “This Week in Petroleum” report. As of the last reporting period, volumes stood 22.5 MMbbl, or 32%, higher than a year ago. Nearly all of the overall inventory gain was in the Gulf Coast, which saw a 2.5-MMbbl increase. The Rocky Mountain/West Coast region stepped up just 0.2 MMbbl, while the East Coast declined 0.2 MMbbl and the Midwest remained unchanged. Propylene non-fuel-use supplies represented 5% of total stocks, off from 5.3% the previous week.

U.S. propane production for the week stood at 1.651 MMbbld, little changed but just slightly below a week earlier and about 0.15 MMbbld higher than last year. EIA reported East Coast production at 0.186 MMbbld, the Midwest 0.362 MMbbld, and the Gulf Coast 0.950 MMbbld. Although there was little variation week to week, East Coast production dipped marginally and the Midwest and Gulf Coast posted minimal increases. For the year, all three regions contributed to the annual gain, with the Midwest and Gulf Coast leading.

Propane imports to the U.S. were pegged at nearly 0.1 MMbbld, up modestly from a week earlier and falling just under last year. The East Coast received 0.022 MMbbld and the Midwest 0.062 MMbbld. U.S. propane demand for the week ended Aug. 7 was at 0.857 MMbbld, as reported by EIA, down nearly 0.2 MMbbld from the prior week and off just fractionally from a year ago.

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