THe EIA reported that total U.S. propane/propylene inventories recorded a draw of 2.3 MMbbl for the week ended February 16, which was slightly below the average of industry expectations for a draw of 2.5 MMbbl and the 3.1 MMbbl average decline for the week. Total U.S. propane stocks now stand at 54.6 MMbbl, which 1.2 MMbbl, or 2.3%, above the 5-year average.
Total U.S. propane/propylene stocks have dropped by 46.6 MMbbl over the last 16 weeks, compared to a decline of only 24.7 MMbbl for the same period last year, according to EIA data.
