US propane and propylene stocks fell 59,000 barrels to 64.43 million barrels for the reporting week ended September 13, the Energy Information Administration said Wednesday.
Midwest supplies increased 556,000 barrels to 22.74 million barrels, while East Coast supplies gained 113,000 barrels to 3.44 million barrels. Gulf Coast stocks fell 565,000 barrels to 35.65 million barrels, EIA said.
Implied demand for propane and propylene was 1.25 million b/d, down 76,000 b/d from last week.
US propane market participants were expecting a storage build of 300,000-600,000 barrels, sources said.
Stocks built 1.3 million barrels in the corresponding week last year, bringing the total US propane/propylene inventory level at that time to 74 million barrels, EIA data showed.
Gulf Coast propane was 1 cent higher at $1.13/gal following the EIA report.
Source: platts.com
