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Daily Wire

  

PetroChem Wire's Daily Wire provides closing prices and a summary of the day's trading activity for US ethylene, proylene, polymers and upstream NGLs markets. Begun in 2007, its olefins and polyolefins prices serve as benchmarks for a number of physical and swap contracts that trade on the CME/NYMEX Clearport system.

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US nonfuel use propylene supplies jump to seven-year high

HOUSTON, January 16, 2019 (PCW) -- US nonfuel use propylene inventories climbed 337,000 barrels (+6.6%) to a seven-year high of 5.453 million barrels last week, the EIA said today. It was the fifth consecutive weekly inventory build, and the largest inventory increase in seven weeks. Propylene inventories now stand 2.313 million barrels (73.6%) above the 52-week average of 3.141 million barrels and are at levels not seen since January 2012. Upstream, US Gulf refinery utilization fell 3.5 percentage points to 94.2% for the week of January 11, just 1 percentage point above the five-year average for this time of year. -- David Barry

US Nonfuel Use Propylene Inventories
000 bbl Current Week
Change
Percentage
change
Current week 5,453
Last week 5,116 337 6.6%
4 weeks ago 4,662 791 17.0%
Year ago 2,461 2,992 121.6%
52 week average 3,141 2,313 73.6%
Source: US Energy Information Administration

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