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NGLs Week is PetroChem Wire's comprehensive summary of price trends, upstream and downstream costs, operations news and supply/demand forecasts. The report contains everything you'll need to understand what's happening in the NGL markets.

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US nonfuel use propylene supplies plunge more than 1 million barrels

HOUSTON, September 19, 2018 (PCW) -- US nonfuel use propylene inventories plummeted 1.020 million barrels last week (-36.3%) to 1.787 million barrels, the EIA said today. It was the largest weekly drop recorded since 2004. Historically, such a large drop or increase in propylene stocks has often been followed by a correction of similar magnitude, so it is not clear whether the move represents fundamental market trends or short-term volatility in the data.

Inventories are about 1 million barrels (-36%) below the 52-week average. Meanwhile, US Gulf refinery utilization fell by 2.1 percentage points to 96.5%. -- David Barry

US Nonfuel Use Propylene Inventories
000 bbl Current Week
Change
Percentage
change
Current week 1,787
Last week 2,807 -1,020 -36.3%
4 weeks ago 3,108 -1,321 -42.5%
Year ago 3,182 -1,395 -43.8%
52 week average 2,793 -1,006 -36.0%
Source: US Energy Information Administration

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