The EIA reported total U.S. propane/propylene inventories had a withdrawal of 2.1 MMbbl for the week ended November 8, which was above industry expectations for a decrease of 1.2 MMbbl and the average build for the week of 744 Mbbl. Total U.S. propane stocks are now at 98.4 MMbbl. This week’s storage levels are only 1% below the same period last year. Notably, during the same reporting week last year, inventories saw a build, in contrast to this week’s decline.
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- Analyst Insight
U.S. Propane Inventories Draw Under Expectations as Exports Remain Strong
U.S. Propane inventories had a withdrawal below industry expectations by about 840 Mbbl while exports soared to levels seen in previous weeks and was above the 4-week average of 1.96 MMb/d.
- Analyst Insight
U.S. Propane Inventories Draw Over Industry Expectations and Exports Average at High Levels
Despite a drop in propane exports from last week's strong rate, the 4-week average has been trending at high levels.
- Analyst Insight
U.S. Propane Inventories Down 1 MMbbl and Exports Drop From Last Week's Strong Rate
Propane stocks just under 2023 high with exports dropping from last week's strong rate and falling below the 4-week average.
