The EIA reported total U.S. propane/propylene inventories built by 4.63 MMbbl for the week ended July 12, which was much higher than industry expectations for an increase of 3.6 MMbbl and the highest build on record since 2014. This week’s storage build was 5.2 times higher than the same period last year. This build was affected by Hurricane Beryl which limited export volumes for a couple of days.
Purity propane stocks reported by the EIA were at 53.3 MMbbl, or 64% of total U.S. inventories, up 3.5 MMbbl from the prior period. This increase was also affected by the hurricane.
