21 August 2013 20:32 [Source: ICIS news]
HOUSTON (ICIS)—US propylene inventories fell by 4.3% week on week, nearly reaching a two-year low, government data showed on Wednesday.
US non-fuel refinery-sourced propylene inventories for the week ended 16 August were 2.908m bbl, down from 3.038m bbl the previous week, according to the US Energy Information Administration (EIA).
This is the lowest inventories have been since the week ended 9 September 2011, when they were at 2.897m bbl.
Inventory levels were down by 44% from 5.190m bbl the week ended 17 August 2012.
The decline in inventory levels came despite US refinery operating rates increasing to 91.0% from 89.4% a week ago, according to the EIA.
US refinery-grade propylene (RGP) bid levels were heard at 59.5 cents/lb ($1,312/tonne, €984/tonne) against offers at 61.5 cents/lb on Wednesday.
($1 = €0.75)
EIA ?xml:namespace> August 16 August 9 August 2 July 26 Propylene inventories (m bbl) 2.908 3.038 3.141 2.923 Refinery operating rates (%) 91.0 89.4 90.9 91.3
Propylene inventories (m bbl)
Refinery operating rates (%)
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