After posting their first fall in 20 weeks, national propane stocks continued to build in the last week.
Figures released yesterday by the Energy Information Administration show propane reserves gained 1.2 million barrels in the week to September 9. That brought total US inventories to 54.7 million barrels – the equivalent of 62.7 days’ supply at current usage.
In contrast, there were 63.7 million barrels in storage at the same time last year – the equivalent of 69.9 days’ supply at last year’s consumption rates.
Although propane stocks have risen for 20 of the last 21 weeks, they posted the first decrease last week, perhaps signalling the end of the traditional heating off-season and the approach of winter, when propane demand spikes.
And while this week signals a moderate increase in propane stocks, inventories are still nine million barrels (14 percent) lower than last year and tracking below the average range for this time of year.
The largest gain in the last week was in the Midwest region, which added 1.2 million barrels of new propane stocks. The East Coast and Rocky Mountain/West Coast regions gained 200,000 barrels and 100,000 barrels, respectively. Propane stocks on the Gulf Coast region however draw 300,000 barrels.
Propylene non-fuel use inventories represented 5.3 percent of total propane inventories.