PADD 3 Propane Inventories Fall Below the 5-Year Average

PADD 3 (Gulf Coast) propane inventories fell by 1.8 MMbbl and total stocks in the region are now at 28.6 MMbbl, which is 2.6 MMbbl, or 8%, below 2024, and 16 MMbbl, or 36%, below the 5-year maximum. Inventories are 3.1 MMbbl, or 10%, below the 5-year average.

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Gulf Coast Re-Exports of Canadian Heavy Crude Oil Rebound in February

Re-exports of Canadian heavy crude oil are estimated to have been 191 Mb/d in February (rightmost columns in chart below), more than double the 76 Mb/d rate of January, and 62 Mb/d less than a year ago.

U.S. Crude Oil Exports Climb, VLCC Arrivals Signal More to Come

Crude oil exports out of the U.S. Gulf Coast rose to nearly 4 MMb/d last week, an increase of 1.1 MMb/d, with increased activity observed in all regions except Louisiana (purple stacked area in chart below). Loaded volumes from week to week continue to see-saw.

U.S. Monthly Propane to Crude Ratio - Chart Toppers

Plaquemines Terminal - the Newest Kid on the Block - Boosts U.S. LNG Feedgas

The new Plaquemines LNG terminal has got “The Right Stuff” boosting U.S. LNG feedgass, which averaged 15.2 Bcf/d last week, down slightly from the previous week.

Market Uncertainty Forces Canadian Heavy Crude Oil to Tighter Price Discounts

In recent weeks, the price discount for Canadian heavy crude oil that originates from the oil storage and shipping hub of Hardisty, AB has narrowed to near a two-year high.

Permian-to-Houston Crude Oil Flows Continued Rebound in October

Permian Basin crude oil flows to Houston extended their recovery in October 2024, rebounding from the sharp decline in June — the lowest volume since September 2023 (see blue line on the chart below).

They're baackk - Permian Natural Gas Prices Under Water - Turn Negative at Waha

There was hope that the new Matterhorn pipeline from Waha to the Katy/Houston area would be a reprieve for negative natural gas prices in West Texas. After the pipe started flows in October 2024 it took a while, but by Mid November according to NGI, Waha prices were up to average $2.50/MMbtu thr

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