Christine Groenewold is the senior product analyst at RBN Energy, committed to scalable solutions for the last 10 years. She specializes in vessel tracking of oil and gas products across the globe and is responsible for daily data mining of core data. Outside of work, Christine is passionate about travel, dogs, and classic rock music from the 70s.
U.S. propane production has trended lower since early May, while the margin above the previous five-year maximum for inventories has continued to narrow despite another inventory build.
The U.S. ethane-to-Henry Hub ratio climbed for a third straight month in July, averaging 111% so far and remaining modestly above the same month last year.
U.S. propane inventories posted a counter-seasonal draw during the week ended July 3, well below industry expectations. The decline was centered in PADD 3, where inventories recorded their largest same-week draw.
The WTI crude-to-gas ratio has declined for three straight months, falling to 21.40 in July to date and moving to within 5% of year-ago levels.
U.S. propane inventories posted a smaller-than-expected build, but stocks remain well above seasonal levels. Production also remains elevated, although it has eased from earlier June highs—a trend worth watching as the summer inventory build continues.
