The heating season (unofficially) concludes tomorrow. And though it’s still overcoat weather here in New York and much of the Northeast, it’s nice to see one sign of spring today: The national propane inventory is leveling out, making a turnaround that will lead to the summertime build up.
The country’s propane supply dipped a scant 100,000 barrels last week, to settle at 26.9 million barrels, according to today’s report from the Energy Information Administration (EIA). The Gulf Coast drew 900,000 barrels, but that was almost offset by the 800,000 barrels added in the Midwest. And the national stockpile, which has been hovering just below the average range for weeks, now appears to have returned to slightly healthier levels.