US propylene inventories dip slightly on lower operating rates

30 May 2013 20:18  [Source: ICIS news]

HOUSTON (ICIS)—US propylene inventories for the week ended 24 May fell slightly on lower refinery operating rates, according to data released on Thursday by the US Energy Information Administration (EIA).

US inventories of non-fuel refinery-sourced propylene fell to 3.414m bbl for the week ended 24 May, down by 1.6% from the previous week’s levels of 3.469m bbl.

This coincided with a drop in US refinery operating rates, which fell to 86.4% from 87.3% a week ago.

US propylene inventories have declined in each of the past four weeks and have fallen by 11% from the 2013 high of 3.853m bbl seen the week ended 26 April.

Some of the decline is stemming from improved demand from the gasoline and polymer-grade propylene (PGP) markets.

US refinery-grade propylene (RGP) was heard traded at 55.75 cents/lb ($1,229/tonne, €946/tonne) on Thursday.

($1 = €0.77)

By: John Dietrich

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