The total U.S. propane stock level reached above 99 MMbbl amid steady production and exports, which means inventories are poised to surpass the 100 MMbbl threshold in the final two weeks of the storage-build period.
The propane inventory increase was well-above average for the week, rising by 2.3 MMbbl for the week ended September 13 (red bar in graph below), according to the latest data released by the U.S. Energy Information Administration (EIA). Total inventories are now at 99.1 MMbbl (red line in second graph) and 2% below the five-year maximum (blue line in second graph). This surpassed recent survey expectations for a build of 1.98 MMbbl and was above the 2 MMbbl average weekly stock build recorded in EIA data since June of this year.
