US propylene stocks reach 5m bbl for first time since January

15 August 2012 21:38  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories increased by 4.1% for the week ended 10 August, according to the latest report from the Energy Information Administration (EIA), which was released on Wednesday.

US propylene inventories for non-fuel, refinery-sourced material reached 5.172m bbl, up from 4.967m bbl for the week ended 3 August.

Inventory levels are at their highest since 20 January, when they were at 5.256m bbl, according to EIA data.

The previous time inventory levels broke the 5m bbl level was for the week ended 27 January, when they were at 5.011m bbl.

Refinery operating rates were at 92.6%, flat with the previous week.

Refinery-grade propylene (RGP) for August was offered at 37.5 cents/lb ($827/tonne, €670/tonne), up from a deal done the previous day at 36.25 cents/lb.

($1 = €0.81)

By: John Dietrich

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