US propane inventories, consumption practically flat

14 August 2013 16:29  [Source: ICIS news]

HOUSTON (ICIS)--US propane inventories and consumption were practically flat week on week, the US Energy Information Administration (EIA) said on Wednesday.

 Inventories were up slightly to 61.9m bbl for the week ending 9 August from 61.8m bbl. Consumption was also up at 1.164m bbl/day from 1.145m bbl/day.

Propane exports were steady at 252,000 bbl/day. Rising exports have boosted propane spot prices in recent weeks.

Prices have been steadily approaching $1.000/gal and finally reached that level this week. Prices were assessed at $1.025/gal on 14 August.

The US has found a home for its excess propane in Mexico and South America. But cargoes are starting to make their way to Asia, where propane is coveted for the production of propylene.

These increased exports have slowed the supply build that has been ongoing for years as a result of shale production. The increase in inventory has been steadily declining all summer.







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By: Bobbie Clark
+1 713 525 2653

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