Export drop contributes to inventory gain
August 19, 2019 By Mark Rachal
On Wednesday, the Energy Information Administration (EIA) reported a significant drop in U.S. propane exports for the week ending Aug. 9.
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On Wednesday, the Energy Information Administration (EIA) reported a significant drop in U.S. propane exports for the week ending Aug. 9.
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Last Wednesday the EIA reported that U.S. propane inventory stood at 35.872 million barrels for the week ending April 13.
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Propane prices have been falling since mid-April as weakening export economics worry traders.
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The inventory draws in January and for the week ending Jan. 13 make it almost a certainty inventory will end this winter at its lowest point in three years.
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U.S. propane inventory ended 2016 at 84.123 million barrels after dropping 2.746 million barrels in the final week of the year.
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For the week ending Oct. 14, the Energy Information Administration (EIA) reported a 1.246-million-barrel draw in U.S. propane inventory.
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Current inventory stands in stark contrast to the way it was trending at the beginning of the year, reports Cost Management Solutions.
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This past week, the Energy Information Administration surprised propane markets by reporting just a 78,000-barrel increase in U.S. propane inventory.
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Many propane retailers may find themselves in a bit of a quandary concerning managing the risk of higher…
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In recent weeks, we’ve monitored the sharp decline in U.S. propane inventory. On Feb. 18, the Energy Information…
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