The EIA reported that total U.S. propane/propylene inventories increased by 2.9 MMbbl for the week ended July 28, which was above average industry expectations for a 2-MMbbl gain and the 1.9 MMbbl average build for the week. It was also the largest build in propane inventories for the week over the last 10 years. The large increase in inventories was unusual as PADD 1 stocks soared by 1.9 MMbbl, the largest weekly build on record for the region. Total U.S. propane stocks are now at 88.6 MMbbl, which is 18 MMbbl, or 27%, above the 5-year average.
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Propane Exports Reach Year-to-Date Peak
U.S. propane exports soar to 2.2 MMb/d, marking a year-to-date peak with a surge of 842 Mb/d from the previous week.
