Propane inventories continued to build in the week of 7/18, increasing by 2.2 million to 65.5 million, as reported by the Energy Information Administration. Current inventory is now 6.1 million above 2013’s inventory level at this time and 7.1 million above the 5-year average of 58.4 million.
Builds on all Regional Inventories: Midwest was up 1.4 million to 21.6 million; Gulf increased 400,000 to 36 million; East was up 300,000 to 5.3 million; and West was up 100,000 to 2.6 million.
Historical Averages: Mid-Con is up 1.2 million from last year and is down 900,000 from the 5-year average of 22.5 million. Gulf Coast inventory is 2.7 million above last year and 7 million above the 5-year average of 29 million. East Coast is up 1.8 million from last year, and is 800,000 above the 5-year average of 4.5 million.
Propane imports were up 8,000 bpd to 57,000 bpd. East Coast was up 3,000 to 22,000; Midwest was up 3,000 to 23,000; Gulf remains flat at zero and West was up 1,000 to 12,000. Propane exports remained flat at 301,000 bpd.
Other Inventory Numbers:
Crude Down: -4.0 mm
Motor Gas Up: +3.4 mm
Distillates Up: +1.6 mm