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EIA: US Propane/Propylene Stocks Climbed 3.1M Bbl in Week
5/22 9:55 AM
EIA: US Propane/Propylene Stocks Climbed 3.1M Bbl in Week HOUSTON (DTN) -- The Energy Information Administration today reported U.S. inventories of propane/propylene increased about 3.1 million bbl in the week-ended May 17 to 65.8 million bbl, which is up 24.7 million bbl or 60.2% from the same time in 2018 and about 22% above the five-year average for the same time of year. Gulf Coast PADD 3 propane/propylene inventories climbed 2.0 million bbl in the week-ended May 17 at 47.4 million bbl and Midwest PADD 2 stocks rose 1.2 million bbl to 13.3 million bbl, EIA data shows. Versus the same time in 2018, Gulf Coast PADD 3 propane/propylene supplies are up 23.7 million bbl or 100% while Midwest PADD 2 stocks are up 1.3 million bbl or 10.9%. East Coast PADD 1 propane/propylene inventories dropped 100,000 bbl in the week at 3.5 million bbl, which was flat versus the year-ago level. EIA data shows U.S. propane/propylene exports in the week-ended May 17 at 1.263 million bpd, down from a record-high 1.347 million bpd in the week prior. Four-week average exports were at 1.314 million bpd compared with 846,000 bpd in the same period in 2018. U.S. propane/propylene imports were at 126,000 bpd during the week, unchanged from the week prior. Four-week average imports were at 120,000 bpd versus 122,000 bpd in the same period last year. Propane/propylene inventories in PADDs IV and V, which include the Rocky Mountain and West Coast regions, were at 1.6 million bbl in the week-ended May 17, down 100,000 bbl from the week prior and 300,000 below the year-ago level. Agency data showed implied demand for propane/propylene at 496,000 bpd, which compared with 500,000 bpd in the week prior and 855,000 bpd in the same week last year. Four-week average implied demand was at 600,000 bpd versus 969,000 bpd in the same period last year. EIA reported refiner and blender net production of propane/propylene was at 2.079 million bpd in the week-ended May 17, down 36,000 bpd from the week prior but up 137,000 bpd or 7.1% above the year-ago level. (c) 2019 DTN. All rights reserved.