US propane and propylene stocks fell 533,000 barrels to 65.97 million barrels for the reporting week ended October 18, data from the Energy Information Administration showed Wednesday.
The change in stocks was in line with market participants’ expectations.
Midwest stocks fell 721,000 barrels to 23.60 million barrels, while East Coast supplies climbed 750,000 barrels to 4.93 million barrels. Gulf Coast stocks were 594,000 barrels lower at 34.47 million barrels.
Gulf Coast propane was 40 points lower at $1.1435/gal following the EIA report. NYMEX December crude futures were trading down $1.75 to $96.55/b at around 11:07 am EDT (1507 GMT).
Source: platts.com
