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US nonfuel use propylene supplies have biggest drop since August
HOUSTON, January 11, 2017 (PCW) -- US nonfuel use propylene inventories fell by 195,000 bbls (4.2%) to 4.447 million bbls, the second consecutive inventory draw, the Energy Department reported today. It was the first 4-week inventory decline since Sep 2016 and the biggest one-week drop since August, according to the department's Energy Information Administration.
Downstream, there have been indications that PP production is ramping up in January, following below-average output in 4Q 2016. On the supply front, US Gulf refinery utilization during the week ended Jan 6 was up 1.4 percentage points at 96.4%. -- David Barry
|US Nonfuel Use Propylene Inventories|
|4 weeks ago||4,652||-205||-4.4%|
|52 week average||3,384||1,063||31.4%|
|Source: US Energy Information Administration|