EIA: Gulf Coast Propane/Propylene Build Lifts US Supply
12/11 10:37 AM
EIA: Gulf Coast Propane/Propylene Build Lifts US Supply OAKHURST, N.J. (DTN) --- U.S. inventories of propane/propylene rose nearly 2% in the first week of December as a roughly 6% gain in Gulf Coast stocks offset further draws in East Coast and Midwest supplies, Energy Information Administration data released midmorning show. At 93.5 million bbl as of Dec. 5, domestic propane/propylene supplies rose 1.7 million bbl week-over-week while up 16.9 million bbl from the same week in 2018. Midwest PADD 2 propane/propylene stocks dropped for a seventh straight week, down 1.052 million bbl to 21.025 million bbl in the week profiled, a 24-week low and down 3.3 million bbl versus a year ago. EIA reported East Coast PADD 1 supplies fell 626,000 bbl as of Dec. 6 to 7.094 million bbl, a nine week low while about 300,000 bbl more than the same time last year. At the Gulf Coast PADD 3, data show propane/propylene supplies posted a 3.347 million bbl build to 61.470 million bbl, the highest level in five weeks and more than 19 million bbl above a year ago. U.S. propane/propylene imports averaged 117,000 bpd in the week reviewed, 13,000 bpd more than the week prior. Propane imports in the last four weeks averaged 138,000 bpd compared with 153,000 bpd in the same period last year. EIA reported implied demand for propane/propylene dropped from a better than nine month high, falling more than 1 million bpd to 756,000 bpd in the week-ended Dec. 6. Implied demand in the four weeks ended Dec. 6 at 1.112 million bpd was down 4.5% compared with the same period in 2018. Data show refiner and blender net production of propane/propylene at 2.423 million bpd, up 165,000 bpd from the week prior. Versus the same time last year, refiner and blender propane/propylene production rose 472,000 bpd. (c) 2019 DTN. All rights reserved.
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