Propane inventories grew by 1.8 million in the week of 8/8, increasing to 70.3 million, as reported by the Energy Information Administration. Current inventory is now 8.4 million above 2013’s inventory level at this time and 8 million above the 5-year average of 62.3 million.
Regional Inventories: Midwest was up 500,000 to 23.4 million; Gulf increased 1.3 million to 38.7 million; East was down 100,000 to 5.4 million; and West up 100,000 to 2.8 million.
Historical Averages: Mid-Con is up 1.9 million from last year and is down 400,000 from the 5-year average of 23.8 million. Gulf Coast inventory is 4 million above last year and 7.5 million above the 5-year average of 31.2 million. East Coast is up 2.2 million from last year, and is 800,000 above the 5-year average of 4.6 million.
Propane imports were up 59,000 bpd to 115,000 bpd with most of the increase focused on Midwest imports. East Coast was up 1,000 to 18,000; Midwest was up 55,000 to 84,000; Gulf remains flat at zero and West was up 3,000 to 13,000. Propane exports were flat from the last 2 weeks at 435,000 bpd.
Other Inventory Numbers:
Crude Up: +1.4 mm
Motor Gas Down: -1.2 mm
Distillates Down: -2.4 mm