Total U.S. propane stockpiles stood at an estimated 36.1 million barrels as of the week ended June 6, rising 2.9 million barrels, according to the Energy Information Administration. The expected flotilla of propane imports continued to arrive through the first week of June, accounting for more than half of the weekly gain.
“Unseasonably high natural gas prices in recent weeks have helped to keep propane spot prices at the major trading hubs at Mont Belvieu, Texas and Conway, Kansas, from about 60 percent to more than 80 percent above their respective year-ago levels, which in turn has provided an incentive for the importation of propane into the United States, particularly waterborne imports into the Gulf Coast region,” EIA reported. “Although still low, current levels of U.S. inventories of propane last week continued to narrow the gap from the lower limit of the average range for this time of year.”
Regional gains showed the Gulf Coast with more than two-thirds of the weekly increase in supplies, followed by the Midwest, which accounted for about one-fourth of the total share. Gulf Coast inventories reached the lower limit of the average range last week for the first time since January 2003, but Midwest inventories continue to remain below the average range. East Coast inventories remained above the average range for the fifth consecutive week.
Propane Stocks (Million Barrels)
|
Propane Stocks |
|
|
Most Recent |
Year Ago |
|
|
04/25/03 |
05/02/03 |
05/09/03 |
05/16/03 |
05/23/03 |
05/30/03 |
06/06/03 |
06/07/02 |
|
U.S. |
21.877 |
23.518 |
26.753 |
28.879 |
30.362 |
33.220 |
36.093 |
NA |
|
East Coast (PADD I) |
2.858 |
2.976 |
3.868 |
3.881 |
3.877 |
4.368 |
4.413 |
NA |
|
New England (PADD IX) |
0.463 |
0.416 |
0.721 |
0.676 |
0.606 |
0.968 |
0.905 |
NA |
|
Central Atlantic (PADD IY) |
1.042 |
1.176 |
1.211 |
1.205 |
1.226 |
1.323 |
1.358 |
NA |
|
Lower Atlantic (PADD IZ) |
1.353 |
1.384 |
1.936 |
2.000 |
2.046 |
2.076 |
2.150 |
NA |
|
Midwest (PADD II) |
6.438 |
7.352 |
8.241 |
8.734 |
8.953 |
9.529 |
10.239 |
NA |
|
Gulf Coast (PADD III) |
11.539 |
12.071 |
13.371 |
14.888 |
16.086 |
17.741 |
19.722 |
NA |
|
Nonfuel Use (PADD I - III) |
1.585 |
1.376 |
1.459 |
1.722 |
1.913 |
1.980 |
2.288 |
NA |
