The EIA reported that total U.S. propane/propylene inventories increased by 817 Mbbl for the week ended July 31, approximately 1.4 MMbbl below industry expectations for a 2.2-MMbbl build and about 350 Mbbl less than the five-year average build of 1.2 MMbbl. Stocks reached 103.1 MMbbl (red line in the chart below), standing 18.4 MMbbl, or 22%, above the same week in 2025 (blue line). Inventories were also 13.2 MMbbl, or 15%, above the previous five-year maximum and 24.3 MMbbl, or 31%, above the five-year average (green line). The smaller-than-normal national build was partly driven by a counter-seasonal draw in PADD 3.
After accounting for nearly 90% of the nationwide build last week, PADD 3 (Gulf Coast) propane inventories reversed course with a 279-Mbbl draw that ran counter to the typical seasonal build, bringing regional stocks to 66.7 MMbbl (red line in the chart below). Despite the draw, regional stocks remained 16.2 MMbbl, or 32%, above the same week in 2025 (blue line). Inventories were also 13.8 MMbbl, or 26%, above the previous five-year maximum and 22 MMbbl, or 49%, above the five-year average (green line). The draw occurred even as weekly exports declined.
The EIA reported that weekly propane/propylene exports fell by 193 Mb/d to 1.92 MMb/d (red line in the chart below). Exports remained above the four-week average of 1.89 MMb/d (green dashed line), but were below both the year-to-date average and the same week in 2025 (blue line), which were each about 1.99 MMb/d.
