US propylene stocks drop 1.8%; refinery rates at 92.6%

27 June 2012 21:54  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories fell by 1.8% in the third week of June while operating rates at US refineries remained at a five-year high, data from the Energy Information Administration (EIA) showed on Wednesday.

Propylene inventories were at 3.735m bbl in the week that ended on 22 June, down from 3.804m bbl a week earlier, the government reported.

US refineries operated at 92.6% of capacity last week, up from 91.9% a week earlier.

The figure was the highest reported by the EIA since 93.6% in the week that ended on 27 July 2007.

Refinery-grade propylene (RGP) for June was offered on Wednesday at 39 cents/lb ($860/tonne, €688/tonne) with no bids. RGP was last heard traded at 37.50 cents/lb last week.

($1 = €0.80)

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By: William Lemos
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