The EIA reported total U.S. propane/propylene inventories built by 515 Mbbl for the week ended August 2 (red bar in figure below), which was lower than industry expectations for an increase of 2.2 MMbbl and 687 Mbbl lower than the 5-year average (green bar in figure below).
After two weeks of strong builds, this is a welcome change because propane storage levels in PADD 3 were very high, approaching records set last year and the five-year maximum.
The total U.S. weekly propane/ propylene stock build is a fraction of the prior week's record build of 2.9 MMbbl, which was the largest for the week in the last decade. Total U.S. propane stocks are now at 87.9 MMbbl and still approaching the 5-year maximum.
