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US nonfuel use propylene supplies surge to highest level since September 2015
HOUSTON, November 30, 2016 (PCW) -- US nonfuel use propylene inventories surged 408,000 bbls (10.0%) to 4.468 million bbls, a 14-month high, the Energy Department reported today. Inventories are up 2.063 million bbls over the past ten weeks, with builds reported in eight of the ten weeks, according to the department's Energy Information Administration.
The last time nonfuel use propylene inventories were reported this high, in September 2015, crude oil was around $45/bbl and spot refinery grade propylene (RGP) had a weighted average price of 15.955 cpp. From a refinery supply standpoint, US Gulf refinery utilization last week edged up 0.1 percentage point to 92.9%. -- David Barry
|US Nonfuel Use Propylene Inventories|
|4 weeks ago||3,710||758||20.4%|
|52 week average||3,213||1,255||39.0%|
|Source: US Energy Information Administration|