US propane and propylene stocks fell 4.17 million barrels to 55.07 million barrels for the week ended February 27, US Energy Information Administration data showed Wednesday.
US stocks saw an average draw of 804,200 barrels in the previous five years during that week.
Midwest stocks declined 2.51 million barrels to 16.81 million barrels last week, much higher compared with a 391,000-barrel decline in the comparable week last year and an 535,800-barrel average decline over the previous five years.
Gulf Coast stocks saw a draw of 617,000 barrels to fall to 34.32 million barrels.
East Coast stocks fell 893,000 barrels to 1.64 million barrels. East Coast stocks saw an average build of 25,200 barrels in the previous five years during that week.
East Coast stocks now stand at their lowest level for the comparable week of the previous five year.
US stocks of propylene for nonfuel use rose 28,000 barrels week on week to 4.46 million barrels.
Imports over the reporting week rose 86,000 b/d to 188,000 b/d, while exports remained flat at 506,000 b/d.
Implied demand jumped 380,000 b/d to 1.77 million b/d.
Gulf Coast propane at the Enterprise terminal in the Mont Belvieu, Texas, hub was trading Wednesday morning at 60.75 cents/gal on IntercontinentalExchange, some 75 points lower than Platts assessment of the non-LST propane at 3:15 pm EST (2015 GMT) Tuesday.
The non-LST propane assessment reflects the value for propane at the Enterprise terminal on FOB basis.
While Conway propane at the Midcontinent hub has traded as high as 58.25 cents/gal on IntercontinentalExchange, some 1.5 cents higher than Platts assessment of the Conway propane at 3:15 pm EST (2015 GMT) Tuesday.
– Platts.com
