Propane inventories had a larger than expected build, increasing 2.5 million in the week of 8/15, increasing to 72.8 million, as reported by the Energy Information Administration. Current inventory is now 10.9 million above 2013’s inventory level at this time and 9.1 million above the 5-year average of 63.7 million.
Regional Inventories: Midwest was up 1.1 million to 24.5 million; Gulf increased 1.2 million to 39.9 million; East was up 200,000 to 5.6 million; and West was flat at 2.8 million.
Historical Averages: Mid-Con is up 2.9 million from last year and is up 100,000 from the 5-year average of 24.4 million. Gulf Coast inventory is 5.3 million above last year and 7.9 million above the 5-year average of 32 million. East Coast is up 2.4 million from last year, and is 1 million above the 5-year average of 5.6 million.
Propane imports were down 57,000 bpd to 58,000 bpd, erasing last week’s gains in the Midwest. East Coast was up 1,000 to 19,000; Midwest was down 60,000 to 24,000; Gulf remains flat at zero and West was up 2,000 to 15,000. Propane exports were flat from the last 3 weeks at 435,000 bpd.
Other Inventory Numbers:
Crude Down: -4.5 mm
Motor Gas Up: +0.6 mm
Distillates Down: -1.0 mm