13 June 2012 20:20 [Source: ICIS news]
HOUSTON (ICIS)--US propylene inventories rose by 3.4% in the first week of June while operating rates at US refineries jumped to a near five-year high, data from the Energy Information Administration (EIA) showed on Wednesday.
Propylene inventories were at 3.678m bbl in the week that ended on 8 June, up from 3.556m bbl a week earlier, the government reported.
US refineries operated at 92% of capacity last week, up from 91% a week earlier and the highest figure reported by the EIA since 92.1% in the week that ended on 31 August 2007.
Refinery-grade propylene (RGP) for June was bid on Wednesday at 36.50 cents/lb ($805/tonne, €644/tonne) with no offers. RGP traded at 37.00 and 37.50 cents/lb earlier this week.
($1 = €0.80)
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