EIA: US Propane Stocks Up 2.2M Bbl, Exports Hit 10-Wk High
7/08 10:43 AM
EIA: US Propane Stocks Up 2.2M Bbl, Exports Hit 10-Wk High CANYON LAKE, Texas (DTN) -- The Energy Information Administration today reported U.S. inventories of propane and propylene increased an about as expected 2.2 million bbl in the week-ended July 3 to 76.8 million bbl, with stocks up by more than 1 million bbl in Gulf Coast PADD 3 despite a large increase in exports. U.S. propane/propylene exports were at 10-week high 1.333 million bpd, up from 1.127 million bpd in the week prior. U.S. propane/propylene exports in the four weeks ended July 3 averaged 1.096 million bpd compared to 1.190 million bpd in the same period in 2019, EIA data shows. Total domestic propane/propylene inventories at 76.8 million bbl on July 3 are up 4.5 million bbl or 6.3% from the same time in 2019 and about 7% above the five-year average level for the week. EIA data shows Gulf Coast PADD 3 propane/propylene inventories increased 1.2 million bbl in the week-ended July 3 to 46 million bbl while Midwest PADD 2 stocks rose 900,000 bbl to 19.3 million bb. Versus the same time last year, Gulf Coast supplies are up 2.7 million bbl or 6.2% while Midwest PADD 2 inventories are down 2.1 million bbl or 9.8%. In East Coast PADD 1, propane/propylene stocks rose 100,000 bbl in the week to 7.6 million bbl, which is up 2.8 million bbl or 58.3 year over year. EIA data showed U.S. propane/propylene imports at 109,000 bpd, up from 59,000 bpd in the week prior. Domestic propane/propylene imports in the four weeks ended July 3 averaged 73,000 bpd, down from 108,000 bpd in the same period last year. Implied demand for propane/propylene in the week-ended July 3 was estimated at 647,000 bpd, down from 695,000 bpd in the week prior. On the supply side, refiner and blender net production of propane/propylene was reported 2.189 million bpd, down from a 19-week high 2.230 million bpd in the prior week. Refiner and blender net production of propane and propylene averaged 2.179 million bpd over the four weeks ended July 3 compared with 2.131 million bpd in the same period last year. (c) Copyright 2020 DTN, LLC. All rights reserved.
 
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