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US nonfuel use propylene supplies climb for fifth straight week
HOUSTON, December 14, 2016 (PCW) -- US nonfuel use propylene inventories increased 136,000 bbls (3%) to 4.652 million bbls, the Energy Department reported today. It was the fifth consecutive inventory build, and stocks have increased by 1.913 million bbls since the end of the third quarter, according to the department's Energy Information Administration.
Low downstream operating rates may have contributed to recent surpluses. Data from the American Chemistry Council showed North American PP percent capacity utilization for October and November in the low-mid 80s.
On the supply front, US Gulf refinery utilization was up 1.2 percentage points at 93% last week. -- David Barry
|US Nonfuel Use Propylene Inventories|
|4 weeks ago||3,857||795||20.6%|
|52 week average||3,271||1,381||42.2%|
|Source: US Energy Information Administration|