Propane inventories experienced a stronger build this week, up 2.2 million for a current total of 85.7 million, reported by the Energy Information Administration as of 7/3/15. High inventory levels persist, growing to 25.6 million above last year and 23.5 million above the 5-year average of 62.2 million.
Regional Inventories: Midwest up 1.4 to 24.2 million; Gulf up 800,000 to 53.6 million; East up 100,000 to 5.1 million; and West down 100,000 to 2.9 million.
Historical Averages: Midwest is still 5.3 million above last year and is 2.9 million above the 5-year average of 21.3 million. Gulf Coast inventory is 19.6 million above last year and 20.1 million above the 5-year average of 33.5 million. East Coast is up 400,000 from last year and is up 400,000 from the 5-year average of 4.7 million.
Propane imports were up 11,000 to 86,000 bpd. East Coast down 10,000 to 13,000; Midwest up 24,000 to 64,000; Gulf was flat at zero bpd and West down 4,000 to 8,000. Propane exports remain high and are flat from the last 2 weeks at 600,000 bpd.
Additional Inventory Numbers:
Crude Up: +0.9 mm to 1,160
Motor Gas Up: +1.2 mm to 218
Distillates Up: +1.6 mm to 137.5
This is a bigger than average build for this time of year. Factor in that propane exports have been running at very high levels (near all time highs) and it underscores just how much of the stuff we have in this country right now.