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US nonfuel use propylene supplies climb to highest level since September
HOUSTON, February 14, 2018 (PCW) -- US nonfuel use propylene inventories were up 228,000 barrels (7.7%) at 3.203 million barrels last week, their highest level since late-Sep 2017, the Energy Department reported today. It was the fifth consecutive inventory build for propylene, and the eighth uptick in the past 12 weeks. Propylene inventories are now 2.2% higher than a year ago, when spot PGP was trading at 47 cpp and NYMEX WTI crude was around $53/bbl. Refinery rates fell back last week, with Gulf Coast utilization down 3.3 percentage points at 89.4%. -- David Barry
|US Nonfuel Use Propylene Inventories|
|4 weeks ago||2,461||742||30.2%|
|52 week average||2,784||419||15.1%|
|Source: US Energy Information Administration|