EIA: Gulf Coast Propane/Propylene Stock Draw Pulls US DN
10/21 10:36 AM
EIA: Gulf Coast Propane/Propylene Stock Draw Pulls US DN OAKHURST, N.J. (DTN) --- U.S. propane/propylene inventories were drawn down for a third week, falling 1.572 million bbl in the week ended Oct. 16 as stocks dropped 3% in the Gulf Coast PADD 3, midmorning data released by the Energy Information Administration show. Total domestic supply of propane and propylene at 98.325 million bbl moved to a 3.1% year-over-year surplus from better than 4% the week prior. The draw in Gulf Coast stocks pulled inventory down from a near four-year high and marked the first in five weeks. Supply slid 1.802 million bbl to 58.079 million bbl in the week profiled, 3.8% more than the same week in 2019. Midwest PADD 2 supply edged higher after two weeks of decline, up 132,000 bbl to 25.790 million bbl last week. The year-over-year supply deficit narrowed to 3.7% from 5.5% the previous week. East Coast PADD 1 supply moved off a six-week low, gaining 120,000 bbl to 8.539 million bbl, 5% more than the same week last year. EIA reported implied propane/propylene demand jumped to a five-week high 1.473 million bpd, up 335,000 bpd from the week prior while 189,000 bpd above the same week a year ago. For the four-week ended Oct. 16, demand at 1.106 million bpd was down 3.8% from the corresponding four-week period in 2019 while cumulative demand at 1.1126 million bpd is 3.5% higher than a year ago. U.S. refiner and blender net production of propane/propylene edged up slightly to 2.157 million bpd, about 100,000 bpd more than a year ago. Four-week average output at 2.230 million bpd was 105,000 bpd above the same time last year. Gulf Coast PADD 3 net production of propane and propylene continued lower, down 38,000 bpd to 1.255 million bpd while Midwest PADD 2 output rose 40,000 bpd to 461,000 bpd. EIA reported U.S. propane/propylene exports slid 364,000 bpd to 1.027 million bpd in the week ended Oct. 16 while four-week average exports totaled 1.226 million bpd versus 1.087 million bpd in the same period in 2019. (c) Copyright 2020 DTN, LLC. All rights reserved.
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN