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 their seasonal climb last week, reaching 90 MMbbl—24% above year-ago levels and 13% above the previous 5-year maximum. Meanwhile, U.S. propane exports remained elevated at 2.03 MMb/d, above both recent averages and 2025 levels.
The USGC 3-2-1 crack spread has cooled from its spring highs, but refining margins remain exceptionally strong. June's average crack spread is running more than 100% above year-ago levels, supported by elevated gasoline and diesel cracks.
U.S. propane inventories continue to climb. The EIA reported a larger-than-expected inventory build, pushing stocks to 87.4 MMbbl, 29% above year-ago levels and 35% above the five-year average. Propane exports moved lower week over week but remained above year-ago levels.
U.S. propane inventories increased by 1.1 MMbbl for the week ended June 5, below both industry expectations and the seasonal average. While inventories remain well above year-ago and five-year levels, the pace of stock builds has moderated since early April, particularly in the Gulf Coast region.
The WTI crude-to-gas ratio has softened in June but remains above year-ago levels. Check out the latest RBN Insight for the details.
