Propane inventory draws go against expectations
October 22, 2020 By Mark Rachal
The last two Weekly Petroleum Status Reports from the Energy Information Administration (EIA) have shown a decline in total U.S. propane inventory.
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The last two Weekly Petroleum Status Reports from the Energy Information Administration (EIA) have shown a decline in total U.S. propane inventory.
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For the week ending Sept. 4, U.S. propane inventory was at 97.380 million barrels – a record high for this time of year and 5.424 million barrels below its all-time high.
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The EIA reported a surprising and unusual draw of 41,000 barrels in U.S. propane inventory, which came when industry analysts expected a 2.31 million-barrel build.
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When prices are as low as they are now, it seems like a good time to consider buys, but propane fundamentals still don’t look very supportive.
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Image: Cost Management Solutions. Click to expand. As we look back on 2019 concerning propane, we would have…
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It is the middle of winter, yet propane prices are falling even as crude prices rise.
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This past Wednesday, the Energy Information Administration released its Weekly Petroleum Status Report, showing data collected for the week ending Dec. 6.
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Last Wednesday, the Energy Information Administration reported that U.S. propane inventory increased 971,000 barrels to 100.641 million barrels….
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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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With so much production in the Midwest relative to demand potential, producers simply do not want to hold inventory there.
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