The EIA reported that total U.S. propane/propylene inventories fell by 1.2 MMbbl for the week ended October 27, which was above average industry expectations for a 500-Mbbl decline and higher than the 152 Mbbl average draw for the week. Total U.S. propane stocks now stand at 101.2 MMbbl, which is 13.9 MMbbl, or 15.9%, above the 5-year average. Most of the week’s decline in inventories came from PADD 3 which had a 1.7 MMbbl draw in stocks.
Weekly exports of propane reported by the EIA remained robust at 1.89 MMbbl/d, up 50 Mbbl/d from last week and well above the year-to-date average of 1.59 MMbbl/d and the 4-week average rate of 1.75 MMbbl/d.
