Total U.S. propane inventory levels increased after prior fluctuations, and they could build further if exports are restricted during Hurricane Milton.
Propane stocks recorded a build of 1.95 MMbbl for the week ended October 4, based on the latest data from the U.S. Energy Information Administration (EIA). Total inventories are now at 99.8 MMbbl (red line in first graph) and 2% below the five-year maximum (blue line in first graph). This rise exceeded survey expectations for a 1.2 MMbbl build. EIA data shows that inventory changes during this week of the year average just 818 Mbbl (green bar in second graph) and have historically had more builds than draws. PADD 3 was responsible for most of the build, recording a 2.1 MMbbl week-on-week increase.
