U.S. Propane Stocks Post Small Build for Second Week in a Row

The EIA reported that total U.S. propane/propylene inventories built by 352 Mbbl for the week ended March 15, which stood in contrast to the average of industry expectations for a draw of 343 Mbbl and the 193 Mbbl average draw for the week. Total U.S. propane stocks are at 52.2 MMbbl, which is 4.3 MMbbl, or 9%, above the 5-year average. Purity propane stocks reported by the EIA were 26.6 MMbbl, or 50.9% of total U.S. inventories, up 827 Mbbl from the prior period. Total U.S. propane/propylene stocks have dropped by 49 MMbbl over the last 20 weeks, compared to a decline of only 29.3 MMbbl for the same period last year, according to EIA data.