01 August 2012 21:01 [Source: ICIS news]
HOUSTON (ICIS)--US propylene inventories rose by 18% in July, while average operating rates at US refineries increased slightly, data from the Energy Information Administration (EIA) showed on Wednesday.
Propylene inventories were at 4.912m bbl in the week that ended on 27 July, up from 4.147m bbl four weeks earlier, according to EIA figures.
The inventory figure last week was the highest since the second week of February.
US refineries operated on average at 92.5% of capacity in July, up from 91.9% in June, government data showed.
Refinery operating rates in July climbed to their highest level in five years.
Refinery-grade propylene (RGP) for August traded on Tuesday at 36.50 cents/lb ($805/tonne, €652/tonne), down from 37.00 cents/lb last week. No RGP bid/offers were heard on Wednesday.
($1 = €0.81)
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