The EIA reported that total U.S. propane/propylene inventories built by 1.3 MMbbl for the week ended November 10, a reversal from average industry expectations for a 579-Mbbl decline and the 645 Mbbl average draw for the week. Total U.S. propane stocks now stand at 99.7 MMbbl, which is 13.7 MMbbl, or 15.9%, above the 5-year average. Most of the week's build came from PADD 4 (Rocky Mountain) plus PADD 5 (West Coast) where propane inventories rose by a whopping 1 MMbbl, which is very unusual for the region. We expect that this is either a correction or an error in the weekly data. Total stocks for the region are now 6.9 MMbbl.
Featured Articles
- Analyst Insight
U.S. Propane Weekly Inventories Draw More Than Industry Expectations as Exports Remain Strong
U.S. propane inventories draw 700 Mbbl more than industry expectations with PADD 3 having the largest decline while exports remained robust at 1,893 MMbbl/d.
- 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.
- Analyst Insight
U.S. Propane Weekly Inventories Draw by 2.2 MMbbl as EIA Issues Notification of Errors in PADD 2
U.S. propane inventories draw about 700 Mbbl more than industry expectations while the EIA identifies errors in PADD 2 stocks affecting various calculations.
