US propylene inventories drop 4.5%, refinery rates fall

26 September 2012 23:12  [Source: ICIS news]

HOUSTON (ICIS)--US propylene inventories fell by 4.5% in the third week of September, data from the Energy Information Administration (EIA) showed on Wednesday.

US inventories for non-fuel refinery-sourced propylene were 4.548m bbl for the week ended 21 September, down from 4.761m bbl for the week ended 14 September.

The drop came as US refinery operating rates fell to 87.4% for the week ended 21 September, compared with 88.9% a week ago.

In the past four weeks, US propylene inventories have dropped by 12% from 5.194m bbl for the week ended 24 August.

Spot refinery-grade propylene (RGP) traded higher on Wednesday at 42 cents/lb ($926/tonne, €713/tonne), compared with bids the previous day at 41 cents/lb.

($1 = €0.77)

By: John Dietrich

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