DTN Ag Headlines


 

US Propane Stocks Rise

6/13/2019 - 07:56:00

HOUSTON (DTN) -- The Energy Information Administration on Wednesday reported U.S. inventories of propane/propylene increased about 2.9 million barrels (bbl) in the week ended June 7 to 71.1 million bbl, with stocks up more than 3 million bbl in Midwest PADD 2 while stocks in Gulf Coast PADD 3 declined.

At 71.1 million bbl on June 7, domestic propane/propylene inventories were up 20.3 million bbl or 39.9% from the same time in 2018 and about 15% above the five-year average for the same time of year, EIA data shows.

Gulf Coast PADD 3 propane/propylene inventories dropped about 700,000 bbl during the week profiled to 47.1 million bbl while Midwest PADD 2 stocks jumped 3.1 million bbl to 18 million bbl, EIA data shows.

Versus the same time in 2018, Gulf Coast PADD 3 propane/propylene supplies are up 18.7 million bbl or 65.8% and Midwest PADD 2 stocks up 1.5 million bbl or 9.1%.

East Coast PADD 1 propane/propylene inventories fell 100,000 bbl in the week to 3.5 million bbl, which was down 100,000 bbl or 2.8% versus the year-ago level.

EIA data shows U.S. propane/propylene exports in the week ended June 7 at 1.012 million barrels per day (bpd), down from 1.075 million bpd in the week prior. Four-week average exports were at 1.153 million bpd compared with 863,000 bpd in the same period in 2018.

U.S. propane/propylene imports were at 149,000 bpd during the week, up from 107,000 bpd in the week prior. Four-week average imports were at 125,000 bpd versus 106,000 bpd in the same period last year.

Propane/propylene inventories in PADDs IV and V, which include the Rocky Mountain and West Coast regions, were at 2.4 million bbl in the week ended June 7, up 500,000 bbl from the week prior but flat versus the year-ago level.

Agency data showed implied demand for propane/propylene at 906,000 bpd, which compared with 818,000 bpd in the week prior and 786,000 bpd in the same week last year. Four-week average implied demand was at 785,000 bpd versus 820,000 bpd in the same period last year.

EIA reported refiner and blender net production of propane/propylene for the week ended June 7 at a new record-high 2.177 million bpd, an increase of 31,000 bpd from week prior and up 227,000 bpd or 11.8% above the year-ago level.

(BM/CZ)