Propane inventories continued to drop this week with a draw of 1.9 million to 69.3 million, as reported by the Energy Information Administration for the week of 1/23/15. Current inventory is 37.6 million above 2014’s inventory level at this time and 20.2 million above the 5-year average of 49.1 million.
Regional Inventories: Midwest down 1.2 to 22.5 million; Gulf down 0.6 to 39.1 million; East up 100,000 to 4.8 million; and West down 200,000 to 3 million.
Gap Continues to Widen Between Current Inventory and Historical Averages: Mid-Con is 13.7 million above last year’s inventory level and is up 5 million from the 5-year average of 17.5 million. Gulf Coast inventory is 20.5 million above last year and 12.2 million above the 5-year average of 26.9 million. East Coast is up 2.2 million from last year and is 1.1 million above the 5-year average of 3.7 million.
Propane imports were up 8,000 bpd to 162,000 bpd. East Coast was up 56,000 to 106,000; Midwest was down 50,000 to 28,000; Gulf was flat at 8 bpd and West was up 2,000 to 20,000. Propane exports were down 130,000 from last week to 408,000 bpd.
Other Inventory Numbers:
Crude Up: +8.9 mm to 1,0979.7
Motor Gas Down: -2.6 mm to 238.3
Distillates Down: -3.9 mm to 132.7