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 inventories continued to build in late May, rising 2.1 MMbbl to 83.3 MMbbl and remaining well above historical levels. Meanwhile, propane exports fell sharply from the prior week to 1.65 MMb/d, though volumes remained higher than the same week last year.
After falling to its lowest monthly average since October 2023 in April, the U.S. propane-to-WTI crude ratio is showing signs of recovery. The ratio started June higher than May's average, as propane regained some ground relative to crude oil. While it's too early to call a sustained turnaround, the early June rebound bears watching.
PADD 3 propane inventories posted a rare 1.2-MMbbl draw as U.S. propane exports surged to a record 2.63 MMb/d. Growing utilization of Gulf Coast flex terminals continues to support strong propane exports and tighter regional balances.
U.S. propane inventories remain historically elevated, but this week’s EIA report showed a much smaller-than-expected storage build heading into summer. At the same time, propane exports softened while production stayed near April’s record highs, continuing to support ample domestic supply availability. Read this week’s Propane Billboard for the latest inventory, export and pricing trends.
U.S. propane inventories posted the largest build for the corresponding week since our recordkeeping began in 2011, while production remained near record highs. Stocks continue to sit well above historical averages, reinforcing a well-supplied propane market.
