25 July 2012 22:02 [Source: ICIS news]
HOUSTON (ICIS)--US propylene inventories rose by nearly 6% in the third week of July while operating rates at US refineries rose to a five-year high, data from the Energy Information Administration (EIA) showed on Wednesday.
Propylene inventories were at 4.647m bbl in the week that ended on 20 July, up from 4.396m bbl a week earlier and the highest level since the last week of February, according to EIA figures.
US refineries operated at 93% of capacity last week, up from 92% a week earlier and the highest level since 93.6% in the week that ended on 27 July 2007.
Refinery-grade propylene (RGP) for July was offered on Wednesday at 37.50 cents/lb ($827/tonne, €686/tonne) with no bids. RGP was last heard traded at 37 cents/lb on Friday.
($1 = €0.83)
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