The EIA reported that total U.S. propane/propylene inventories fell by 3.6 MMbbl for the week ended January 5, which was above average industry expectations for a draw of 2.2 MMbbl and the 2.8 MMbbl average decline for the week. Total U.S. propane stocks now stand at 79.1 MMbbl, which is in line with the same reporting week in 2023 and 7 MMbbl, or 10%, above the 5-year average.
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- Analyst Insight
U.S. Propane Weekly Inventories Draw Slightly Below Industry Expectations as PADD 1 Stocks Build Despite Strong Exports
U.S. propane inventories draw 450 Mbbl less than industry expectations as PADD 1 increases stocks and exports strengthen from the previous week to 1,787 MMbbl/d.
- Analyst Insight
U.S. Propane Inventories Draw by 2 MMbbl; Slightly Below Historical Weekly Average
U.S. propane inventories drew by 2 MMbbl for the week ended December 29, 2023, which was about 1 MMbbl more than industry average expectations. However, the weekly draw was ~400 Mbbl less than the historical average for the week.
- Analyst Insight
U.S. Propane Inventories Build Less Than Expectations for 2nd Consecutive Week
U.S. propane inventories build 1.85 MMbbl less than industry expectations as exports drop from last week's record high rate.
