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US nonfuel use propylene supplies drop to lowest level since mid-September
Houston, March 1, 2017 (PCW) -- US nonfuel use propylene inventories fell by 355,000 bbls (12.4%) to 2.513 million bbls, the ninth consecutive weekly inventory draw, the Energy Department reported today. Inventories have not been this low since mid-September 2016, according to the department's Energy Information Administration. At that time, spot RGP was trading at around 32 cpp, versus 41 cpp earlier this week, according to PetroChem Wire. Crude oil prices in September 2016 were about $10/bbl lower than they are today. Upstream, US Gulf refinery utilization jumped 3.8 percentage points to 88% last week. -- David Barry
|US Nonfuel Use Propylene Inventories|
|4 weeks ago||3,824||-1,311||-34.3%|
|52 week average||3,430||-917||-26.7%|
|Source: US Energy Information Administration|