Data reported by the Canada Energy Regulator (CER) for Canada’s propane inventories at the end of October place them near the middle of the five-year range. Stocks in Western Canada (left hand chart in top figure below) are reported at 7.16 MMb, a gain of 0.12 MMb versus September and 0.11 MMb above the five-year average. Those in Eastern Canada (right hand chart) are pegged at 4.29 MMb, a slight increase of 0.06 MMb versus September and 0.29 MMb below the five-year range. Propane stocks in Eastern Canada have been steadily closing the gap to the five-year average after being more than 0.75 MMb below just a couple of months ago. Since it is often used as a heating fuel in colder months, one of the warmest Octobers on record for Eastern Canada explains the small monthly increase and the most recent narrowing of the gap to the five-year average.
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