OAKHURST, N.J. (DTN) -- The Energy Information Administration this morning reported U.S. propane/propylene inventories rose 2.1 million barrels (bbl) in the week ended July 17, reaching the highest level since the week ended Jan. 3 as stocks gained across the regional hubs.
At 82.4 million bbl, stocks rose 2.6% on the week while posting a 7.4 million bbl or 10% increase versus the corresponding week in 2019.
Gulf Coast PADD 3 propane/propylene inventories rose to 48.7 million bbl from 48.2 million bbl the week prior, while Midwest PADD 2 stocks rose 900,000 bbl to 21.0 million bbl. At the East Coast PADD 1, propane/propylene stocks gained 400,000 bbl in the week ended July 17 to 8.6 million bbl from 8.2 million bbl the week earlier.
EIA data showed refiner and blender net production of propane/propylene eased off a 22-week high, down to 2.214 million bpd from 2.260 million bpd the prior week. Refiner and blender net production of propane and propylene averaged 2.223 million bpd over the four weeks ended July 17 compared with 2.171 million bpd in the same period a year ago.
U.S. propane/propylene exports moved up from a four-week low, rising to 1.015 million bpd in the week profiled. U.S. propane/propylene exports in the four weeks ended July 17 averaged 1.094 million bpd, down from 1.151 million bpd for the same period in 2019.
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