The EIA reported a 1.3-MMbbl build in U.S. propane/propylene inventories for the week ended June 26, well below industry expectations for a 2.6-MMbbl build and the five-year average build of 2.0 MMbbl for the week. Total stocks increased to 91.3 MMbbl (red line in chart below), remaining 15.7 MMbbl, or 21%, above the same week in 2025 (blue line), 22.3 MMbbl, or 32%, above the five-year average (green line), and 10.2 MMbbl, or 13%, above the previous five-year maximum. Despite the smaller-than-average build, total inventories continue to run well above typical levels for this time of year.
Total U.S. propane production edged up by 11 Mb/d to about 2.9 MMb/d (red line in the chart below), remaining 4% above the previous five-year maximum. Although production remains elevated, it has trended lower since rising above 3.0 MMb/d earlier in June. Whether production continues to soften will be an important factor to watch as the summer inventory build progresses.
