US propane inventories rise by 1.601mn bl
OREANDA-NEWS. October 09, 2015. US propane inventories rose by 1.601mn bl for the week ended 2 October, according to the US Energy Information Administration (EIA), higher than predicted by market participants surveyed by Argus.
This week's build brought propane inventories to 100.342mn bl, the largest inventory level ever reported since the EIA began recording weekly propane data 1993. Nationwide inventories are now 45.46pc above the five-year average and 19.697mn bl above where inventories stood during the same week in October last year.
Midcontinent inventories rose by 514,000 bl to stand at 27.5mn bl, as a lackluster crop-drying season has done little to increase demand for the heating fuel.
Stockpiles at PADD III rose by 646,000 bl to stand at 61.996mn bl.
At Mont Belvieu, Texas, EPC propane opened at 51?/USG but fell to 48.75?/USG in trading following the EIA's release. At the LST cavern, propane opened at 51.5?/USG and fell to 49.25?/USG in active trading.
At Conway, Kansas, propane reached a morning high of 46.5?/USG prior to the inventory data and sank to 45?/USG thereafter.
Propane inventories along the eastern seaboard rose by 349,000 bl to 6.146mn bl, while West coast and Rocky Mountain inventories rose by 93,000 bl to stand at 4.686mn bl.
US propylene inventories declined by 230,000 bl to 4.457mn bl, while propane/propylene supplied to end users rose by 36,000 b/d to 828,000 b/d.