The total U.S. propane inventory build bounced back despite production notching down, which means propane stocks are likely poised to return to five-year highs in the last stretch of the storage-build season.
Propane inventories increased by 2.6 MMbbl (red bar in first graph) for the week ended August 30, according to fresh data from the U.S. Energy Information Administration (EIA). Total stocks are now at 95.7 MMbbl (red line in second graph) and less than 1% below the five-year maximum (blue line in second graph). This increase was well above industry expectations for a build of 1.61 MMbbl and above the 2.07 MMbbl average weekly stock build recorded in EIA data this summer.
