New From PetroChem Wire . . . .
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.
For more information, click here.
For all of our products and services,
US nonfuel use propylene supplies show biggest gain in six years
HOUSTON, September 7, 2017 (PCW) -- US nonfuel use propylene inventories grew sharply last week, rising 573,000 bbls (20.1%) to 3.429 million bbls, the Energy Department reported today. It was the largest gain in six years. The unusually large inventory build was likely due to Hurricane Harvey, which caused the outages of downstream units that refine propylene and convert it into other petrochemicals.
Propylene export shipments were also likely affected by the storm. Refinery grade propylene prices have continued to climb since the storm, with bids reported above 32 cpp on Thursday morning. By comparison, RGP prices were around 23-24 cpp in early August. Gulf Coast refinery throughput plummeted 32.6 percentage points last week to 63.4% as the storm affected refineries and logistics all along the Texas Gulf Coast. -- David Barry
|US Nonfuel Use Propylene Inventories|
|4 weeks ago||2,937||492||16.8%|
|52 week average||3,201||228||7.1%|
|Source: US Energy Information Administration|