Propane inventories increased by 3.7 million to 35.2 million in the week ending 5/2/14, as reported by the Energy Information Administration. The gap is shrinking between this year’s inventory and 2013 inventory. Current inventory is now 5.8 million below 2013’s inventory level at this time and 3.8 million below the 5-year average of 39 million.
Inventory builds were seen in all regions this week. Midwest increased 1.1 million to 11.7 million; Gulf was up 2.2 million to 19.4 million; East grew 200,000 to 2.8 million; and West was up 200,000 at 1.4 million.
Historical Averages: Mid-Con is down 200,000 from this time last year and is down 2.3 million from the 5-year average of 14 million. Gulf coast inventory is 6.9 million below last year and 1.1 million below the 5-year average of 20.5 million. East Coast is up 900,000 from last year, and is equal to the 5-year average of 2.8 million.
Propane imports increased 16,000 bpd last week to 72,000 bpd. East Coast was down 4,000 to 21,000; Midwest was up 13,000 to 37,000; Gulf remains flat at zero and West was up 7,000 to 14,000. Propane exports were flat from last week at 314,000 bpd.
Other Inventory Numbers:
Crude Down: -2.5 mm
Motor Gas Up: +1.6 mm
Distillates Down: -0.4 mm