08 August 2012 18:52 [Source: ICIS news]
HOUSTON (ICIS)--US propylene inventories rose by 1% in the first week of August, along with slightly higher operating rates at US refineries, data from the Energy Information Administration (EIA) showed on Wednesday.
Propylene inventories were at 4.967m bbl in the week that ended on 3 August, up from 4.912m bbl a week earlier.
US refineries operated on average at 92.6% of capacity last week, up from 92.2% a week earlier, according to EIA figures.
Refinery operating rates in the US rose to their highest level in five years in the past few weeks, while the figure for propylene inventories reported by the EIA for last week was the highest since the last week of January.
Refinery-grade propylene (RGP) for August was offered on Wednesday at 37 cents/lb ($816/tonne, €661/tonne) with no bids. RGP traded last week at 36.50 cents/lb.
($1 = €0.81)
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