By Brian L. Milne
DTN Refined Fuels Editor
ORANGE BEACH, Ala. (DTN) -- The Energy Information Administration (EIA) Wednesday reported inventories of propane/propylene held in U.S. storage rose 4.3 million barrel (bbl) in the week-ended June 22 to 58.4 million bbl, with domestic exports down significantly from the week prior and stocks in Gulf Coast PADD 3 sharply higher.
U.S. propane/propylene exports were at 566,000 bbl in the week, down from 1.013 million barrels per day (bpd) in the prior week, according to EIA. Four-week average exports were at 796,000 bpd, up from 656,000 bpd in the same period last year.
Compared to the same time in 2017, domestic propane/propylene stocks are down 100,000 bbl or 0.1%.
Propane/propylene inventories in Gulf Coast PADD 3 increased about 2.7 million bbl in the week-ended June 22 to 32.3 million bbl, which was down 700,000 bbl or 2.1% versus the same time last year.
Midwest PADD 2 propane/propylene stocks rose about 700,000 bbl during the week to 18.4 million bbl, about 200,000 bbl higher than the year-ago level.
Supplies in East Coast PADD 1 rose 500,000 bbl during the week to 4.8 million bbl, which was up 500,000 bbl or 11.6% year-over-year.
Propane/propylene supplies in PADDs IV and V, which include the Rocky Mountain and West Coast regions, increased 400,000 bbl in the week-ended June 22 to 2.9 million bbl, roughly the same as a year ago.
Agency data showed implied demand for propane/propylene in the week at 827,000 bpd, which compared with 548,000 bpd in the week prior and 916,000 bpd reported for the same week last year.
U.S. propane/propylene imports were at 88,000 bpd, down from 96,000 bpd in the week prior. Four-week average imports were at 101,000 bpd, down from 88,000 bpd in the same period last year.
EIA reported refiner and blender net production of propane/propylene in the week-ended June 22 at 1.917 million bpd, down from 1.927 million bpd in the week prior but up from 1.846 million bpd in the same week last year.
Brian Milne can be reached at brian.milne@dtn.com
(BAS)
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