Last week, the total U.S. propane inventory fell to one of its lower mid-April marks of the last decade, according to this afternoon’s report from the Energy Information Administration.
The stockpile dipped 360,000 barrels to settle at 26.4 million barrels, the EIA says. In the last ten years, only 2003 and 2007 were dryer than that at the middle of April. The Midwest and Gulf Coast both notched drawdowns to end last week, though these were slightly offest by a modest builds on the East Coast and West.
Inventory levels have pinballed back and forth over the last month, posting a 600,000-barrel net decline at a time when supplies are historically on the rise.