Rise in US Propane and Propylene Stocks Below Expectations, Exports Down
2019-07-05    [Source:Chemical Week]
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Combined US propane and propylene stocks came in well below expectations on Wednesday, according to the Energy Information Administration (EIA)’s weekly petroleum status report.

US propane and propylene stocks rose by 1.3 million bbl to 77.2 million bbl for the week ended 28 June. Year on year, stocks have risen by 26.1%. Propylene stocks fell by about 100,000 bbl to 4.9 million bbl week on week. Propylene stocks are more than double the 2.3 million bbl they were at this time last year.

An OPIS survey of analysts, traders, brokers and other market participants forecast an average propane and propylene stock build of 2.27 million bbl. The range of expectations was 1.7 million bbl to 3.4 million bbl.

Mont Belvieu propane prices were trending lower prior to the EIA release.

Exports were down by 62,000 b/d to 1.112 million b/d. Year on year, they have risen by 44.6%. Imports decreased by 5,000 b/d to 106,000 b/d. Year on year, they have increased 1.9%.

Propane and propylene product supplied, which is an indicator of demand, rose by 10,000 b/d to 877,000 b/d. Year on year, they have risen by 6.4%.

Production decreased by 62,000 b/d to 2.069 million b/d. Year on year, they have risen by 9%.

Combined propane and propylene stocks in the Gulf Coast (PADD 3) region fell by 700,000 bbl to 48.2 million bbl week over week. Year on year, they have risen by 42%. The Midwest (PADD 2) region rose by 1.2 million bbl to 21.8 million bbl. Year on year, they have risen by 13.3%. PADD 1 inventories rose by 500,000 bbl to 4.4 million bbl. Year on year, they have fallen by 14.7%. PADDs 4 and 5 inventories rose by about 300,000 bbl to 2.8 million bbl. Year on year, they have fallen by 3%.

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