Propane inventories increased by 1.1 million to 29.5 million in the week ending 4/18/14, as reported by the Energy Information Administration. Current inventory is 9.5 million below last year’s inventory level at this time and 5.9 million below the 5-year average of 35.4 million.
Each region saw builds this week. Midwest increased 800,000 to 9.7 million; Gulf was up 100,000 to 16.4 million; East grew 100,000 to 2.2 million; and West was up 100,000 to 1.2 million.
Historical Averages: Mid-Con is down 900,000 from this time last year and is down 2.6 million from the 5-year average of 12.3 million. Gulf coast inventory is 9.9 million below last year and 2.7 million below the 5-year average of 19.1 million. East Coast is up 900,000 from last year, but is 200,000 below the 5-year average of 2.2 million.
Propane imports grew 36,000 bpd last week to 95,000 bpd. East Coast was down 1,000 bpd to 25,000; Midwest was up 39,000 to 67,000; Gulf remains flat at zero and West was down 2,000 to 3,000. Propane exports remained flat at 325,000 bpd.
Other Inventory Numbers:
Crude Up: +3.0 mm
Motor Gas Down: -0.3 mm
Distillates Up: +0.6 mm