Canadian LPG Stocks - Propane and Butane Stocks Are Tight, But That Depends on Where

Data reported by the Canada Energy Regulator (CER) for Western Canada’s propane inventories at the end of October (red line in left hand chart below) were posted at 6.9 MMbbl, registering a reduction for the month of 0.2 MMbbl and stand 0.2 MMbbl (-3%) below the five-year average (blue line). Noteworthy was that August stock levels were revised 0.5 MMbbl higher resulting in September levels being revised higher by a similar amount. This constitutes an upward revision on the order of 7% and a very rare data revision which now places Western Canada propane stocks very near the five-year average, rather than being well below as was the case with prior data.