US propane and propylene stocks increased 26,000 barrels to 66.50 million barrels for the week ended October 11, data from the Energy Information Administration showed Monday.
Propane market participants had been expecting stocks to show a draw of 500,000 barrels.
This EIA storage report was delayed from the scheduled October 16 release date due to the US government shutdown.
Midwest stocks fell 25,000 barrels to 24.31 million barrels, while East Coast supplies gained 194,000 barrels to 4.18 million barrels. Gulf Coast stocks were 263,000 barrels lower at 35.07 million barrels.
Implied demand for propane and propylene was 1.25 million b/d, down 139,000 b/d.
Gulf Coast propane was 50 points lower at $1.15/gal following the bearish EIA report. However, crude was also lower following its own bearish report.
Source: platts.com
