These days, there are three main factors affecting the propane market: export economics, export dock space and storage levels. The war with Iran has dramatically shifted export economics and filled dock space, yet storage remains at all-time highs. In this two-part blog series, we will look closer at all three factors and provide our outlook for what’s in store for the remainder of 2026. In today’s RBN blog, we will review how we got here and discuss the upcoming changes in the supply/demand balance.
Propane inventories as of April 17 were 80 MMbbl — more than 23% higher than they have ever been this time of year. How did propane storage get so high? The math is simple. Figure 1 below illustrates the changes in both supply and demand. In 2025, total gas plant production (dark-blue bar segment at left) increased by 117 Mb/d, supply from refineries (orange segment) increased by 8 Mb/d and supply from imports (dark-green bar segment) increased by 7 Mb/d. At the same time, total domestic (non-export) demand (light-blue bar segment at right) increased by 46 Mb/d, with export demand (purple bar segment) rising by the same amount. This resulted in a total supply increase of 132 Mb/d and a total demand increase of 92 Mb/d. The balance is growth in storage of 40 Mb/d (light-green bar segment). That may not seem like a lot in a 2.7-MMb/d market, but multiply that figure by 365 days in the year and you end up with a 15-MMbbl storage surge.
Figure 1. U.S. Supply/Demand Changes for Propane, 2025. Source: EIA
Not a Moment Too Soon - Golden Pass Exports First LNG Cargo
Golden Pass Exports First LNG Cargo
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About the song
“Leave the Door Open” was written by Bruno Mars, Brandon Anderson, Dernst Emile II and Christopher Brody Brown. It appears as the second song on Silk Sonic’s debut album, An Evening with Silk Sonic. The Philly-soul-inspired R&B song is about an invitation for a romantic interest to come over. Released as the first single from the album in March 2021, it went to #1 on the Billboard Hot 100 Singles chart and has been certified 2X Platinum by the Recording Industry Association of America (RIAA). It won Record of the Year, Song of the Year, Best R&B Performance and Best R&B Song at the 64th Grammy Awards. Personnel on the record were: Bruno Mars (vocals, guitar, congas), Anderson .Paak (vocals, drums), D’Miles (piano), Christopher Brody Brown (bass), Ella Feingold (guitar) and Larry Gold (string arrangements).
An Evening with Silk Sonic is the debut studio album of the superduo of Anderson .Paak and Bruno Mars. Recorded in 2020-21 at Shampoo Press & Curl Studios in Los Angeles, it was produced by Bruno Mars, D'Miles and The Stereotypes. The album was released in November 2021 and went to #1 on the Billboard Top R&B/Hip-Hop and #2 on the Billboard 200 Albums charts. It has been certified Platinum by the RIAA. Four singles were released from the LP.
Silk Sonic is an American superduo composed of Brun Miles and Anderson .Paak. The two met in 2017 and began work on their debut album in 2020. They have released one studio album and five singles. Mars performed five Silk Sonic songs on his 2026 The Romantic Tour with .Paak, who has commented that “Silk Sonic always has a place to put out more music.”
"About the Song" -- written by Mickey McMahan , RBN Director of Musicology
