Propane inventories experienced a draw of 500,000 to 25.7 million in the week ending 3/21/14, as reported by the Energy Information Administration. Current inventory is 15.1 million below last year’s inventory level at this time and 6.8 million below the 5-year average of 32.5 million.
Gulf was down 700,000 to 15.6 million and East fell 200,000 to 1.7 million. Midwest increased 200,000 to 7.4 million and West was up 100,000 to 1 million.
Historical Averages – Still Trending Below Average: Mid-Con is down 2.5 million from this time last year and is down 3.3 million from the 5-year average of 10.7 million. Gulf coast inventory is 13.3 million below last year and 3.5 million below the 5-year average of 19.1 million. East Coast is up 300,000 from last year, but is 300,000 below the 5-year average of 2 million.
Propane imports grew 19,000 bpd last week to 123,000 bpd. East Coast was up 10,000 bpd to 47,000; Midwest was up 7,000 to 60,000; Gulf remains flat at zero and West was up 2,000 to 16,000. Propane exports remained at 369,000 bpd.
Other Inventory Numbers:
Crude Up: 6.6 mm
Motor Gas Down: -5.1 mm
Distillates Up: 1.6 mm