EIA: US Propane Stocks Fall as Demand Jumps, Exports Drop

CANYON LAKE, Texas (DTN) — The Energy Information Administration today reported U.S. inventories of propane/propylene dropped about 600,000 bbl in the week-ended April 24 to 56.8 million bbl, with Gulf Coast PADD 3 stocks down 1.2 million bbl and both exports and imports sharply lower while estimated demand moved sharply higher.

EIA data showed implied demand for propane/propylene in the week-ended April 24 at 1.315 million bpd, up from 943,000 bpd in the week prior. Implied demand in the four weeks ended April 24 was at 1.025 million bpd compared with 714,000 bpd in the same period last year.

The EIA estimated U.S. propane/propylene exports in the week at 893,000 bpd, down from 1.050 million bpd in the week prior. Average daily U.S. propane/propylene exports in the four weeks ended April 24 were at 1.199 million bpd compared with 1.202 million bpd in the same period in 2019.

Gulf Coast PADD 3 propane/propylene inventories at 39.9 million bbl in the week-ended April 24, which is up 2 million bbl or 5.3% from the same time in 2019.

Total U.S. propane/propylene stocks are up 3.6 million bbl or 6.7% from the in 2019 and about 13% above the five-year average.

The estimated 600,000 bbl decrease in propane/propylene inventories in the week-ended April 24 compares with a 1.2 million bbl stock build in the same week in 2019.

Midwest PADD 2 propane/propylene supplies rose 300,000 bbl in the week at 11.1 million bbl, which is up 300,000 bbl or 2.8% above the year-ago level.

East Coast PADD 1 propane/propylene stocks increased 300,000 bbl in the week at 3.9 million bbl and are up 800,000 bbl or 25.8% year over year, EIA data shows.

Propane/propylene inventories in PADDs IV and V, which include the Rocky Mountain and West Coast regions, fell 100,000 bbl in the week at 1.9 million bbl, which is up 400,000 bbl or 26.7% above the year-ago level.

U.S. propane/propylene imports in the week-ended April 24 averaged 77,000 bpd, down from 130,000 bpd in the week prior. Propane imports in the last four weeks averaged 101,000 bpd versus 137,000 bpd in the same period in 2019, EIA data shows.

The EIA estimated refiner and blender net production of propane/propylene at a 2.044 million bpd, down from 2.057 million bpd in the week prior and 22,000 bpd or 1.1% lower than at the same time in 2019.

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