US propylene inventories gain 0.3% week on week

22 August 2012 21:02  [Source: ICIS news]

HOUSTON (ICIS)--US inventories of propylene increased by 0.3% for the week ended 17 August, according to data released by the US Energy Information Administration (EIA) on Wednesday.

US inventories of refinery-sourced, non-fuel propylene rose to 5.190m bbl, up from 5.172m bbl for the week ended 10 August.

The inventory level remains the highest since the EIA reported inventories of 5.256m bbl for the week ended 20 January.

The increase in inventories came despite a drop in US refinery operating rates, which fell to 91.2% from 92.6% the previous week.

Trading of refinery-grade propylene (RGP) was thin, with bids and offers heard at 36.000-37.375 cents/lb ($794-824/tonne, €635-659/tonne) FOB (free on board).

($1 = €0.80)

By: John Dietrich

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