Data reported by the Canada Energy Regulator (CER) for Western Canada’s propane inventories at the end of December (red line in left hand chart below) were posted at 4.7 MMbbl, with a seasonal average decline of 1.1 MMbbl versus November and stand 0.5 MMbbl (-10%) below the five-year average (blue line). Weather in Western Canada was warmer than the historical average during the month, but stock levels can also be heavily influenced by the magnitude of rail shipments from the region, which likely increased.
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