US propylene stocks fall 4% after 33-month high - EIA

31 December 2008 21:01  [Source: ICIS news]

HOUSTON (ICIS news)--Stocks of US non-fuel propylene dropped 4% last week after inventories hit a 33-month high in the week ended 19 December, according to data released Wednesday from the Environmental Information Administration (EIA).

US propylene stocks were at 3.790m bbl during the week ended 26 December, the EIA said.

The previous week, stocks reached 3.946m bbl, the highest inventory level since stocks were at 3.961m bbl during the week ended 3 March 2006, according to EIA data.

Refinery-grade propylene (RGP) last traded on 17 December at 13 cents/lb after peaking at nearly 80 cents/lb in mid-July.

RGP, or non-fuel use propylene as defined by the EIA, is intended for petrochemical manufacturing, including polymer and chemical-grade propylene.

US weekly non-fuel use propylene inventories – m bbl (EIA)
26 Dec	19 Dec	12 Dec	5 Dec	28 Nov
3.790	3.946	3.618	3.786	3.499

($1 = €0.71)

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By: Ryan Hickman
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