The EIA reported a 529-Mbbl draw in total U.S. propane/propylene inventories for the week ended October 16, lowering stocks to 105.8 MMbbl (red line in the first chart below). Stocks have drawn every week since the week ended September 25, when a 1.8-MMbbl build marked the last increase and lifted inventories to 109.6 MMbbl. The 3.8-MMbbl decline since then is the steepest for this period in at least 10 years (red bar in the second chart below). The closest comparison, 2020’s 3.6-MMbbl decline, was driven mainly by strong domestic demand. Inventories remain 2.7 MMbbl, or 3%, above both the same week in 2025 (blue line) and the five-year maximum, and 12.3 MMbbl, or 13%, above the five-year average (green line), but the cushion is thinning fast. Three weeks ago, stocks were 6.3 MMbbl above last year and 17.7 MMbbl above the five-year average.
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- Analyst Insight
U.S. Propane Inventories Climb as Exports Sink
U.S. propane inventories climbed more than expected, with Gulf Coast stocks reaching a record high, while exports fell sharply. Total inventories remain 19% above the five-year average as the market moves toward the seasonal draw period.
- Analyst Insight
U.S. Propane’s Surplus Is Nearly Gone Heading Into Winter
U.S. propane stocks are now almost even with last year after a fourth straight weekly draw. Strong exports have nearly erased a surplus that stood at 12.8 MMbbl in early September.
- Analyst Insight
U.S. Propane Exports Rock Back as Stocks Roll Lower
U.S. propane inventories posted a larger-than-expected draw as exports rebounded and Gulf Coast stocks pulled back from last week’s record high. Total inventories remain 17% above the five-year average heading into the seasonal draw period.
