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US nonfuel use propylene supplies drop to lowest level since April
HOUSTON, December 13, 2017 (PCW) -- US nonfuel use propylene inventories fell by 91,000 barrels (-3.5%) last week to 2.481 million barrels, the lowest level since early April, the Department of Energy said today. Propylene inventories have dropped in eight of the past 12 weeks, according to the department's Energy Information Administration.
A year ago, propylene inventories peaked in mid-late December above 4.7 million barrels and refinery grade propylene (RGP) spot prices were 16 cpp, even as NYMEX WTI crude traded at similar prices to today's markets.
December pipeline RGP most recently traded at 36.5 cpp. US Gulf refinery utilization last week edged up 0.1 percentage point to 94.9%. -- David Barry
|US Nonfuel Use Propylene Inventories|
|4 weeks ago||2,622||-141||-5.4%|
|52 week average||3,031||-550||-18.1%|
|Source: US Energy Information Administration|