The EIA reported that total U.S. propane/propylene inventories recorded a draw of 3.7 MMbbl for the week ended February 9, which was above the average of industry expectations for a draw of 2.4 MMbbl and the 3.3 MMbbl average decline for the week. Total U.S. propane stocks now stand at 56.9 MMbbl, which is on par with the 5-year average.
Total U.S. propane/propylene stocks have dropped by 44.3 MMbbl over the last 15 weeks, compared to a decline of only 21.8 MMbbl for the same period last year, according to EIA data.
