Total U.S. propane inventories and exports rose, which appears to signal few market effects from Hurricane Helene.
Propane stocks recorded a build of 263 Mbbl for the week ended September 27, based on fresh data released by the U.S. Energy Information Administration (EIA). Total inventories are now at 97.8 MMbbl (red line in first graph) and nearly 4% below the five-year maximum (blue line in first graph). This was well below survey expectations for a 2.1 MMbbl build. EIA data shows that inventory changes during this week of the year average just more than 1 MMbbl (green bar in second graph) and have historically recorded mostly storage builds. In the past decade, the first full week of October has also recorded more builds than draws, which means stocks still have a chance of reaching the 100 MMbbl threshold.
