23 May 2012 22:02 [Source: ICIS news]
HOUSTON (ICIS)--US propylene inventories fell by 2.7% in the third week of May along with lower operating rates at US refineries, data from the Energy Information Administration (EIA) showed on Wednesday.
Propylene inventories were at 3.572m bbl in the week that ended on 18 May, down from 3.671m bbl a week earlier.
US refineries ran at 88.1% of capacity last week, down from 88.3% in the previous week, EIA data showed.
The drop in the operating rate was the first reported by the EIA in the last six weeks.
Refinery-grade propylene (RGP) was offered at 46 cents/lb ($1,014/tonne, €802/tonne) on Wednesday against a 45 cent/lb bid. RGP for June delivery traded at 44.50 cents/lb on Monday.
($1 = €0.79)
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