The EIA reported U.S. propane inventory down 2.141 million barrels for the week ending Nov 8. Industry expectations on average were for a draw of 900,000. Over the last five years inventories have averaged a draw of 784,000 barrels during week 45 of the year. Ready for sale propane stocks were down 1.718 million barrels to 65.737 million barrels. That was 66.8% of the total propane/propylene inventory.
Crude inventory was up 2.089 million barrels. Gasoline inventory was down 4.407 million barrels. Distillates were down 1.394 million barrels.
Propane exports down 506,000 bpd, imports up 9,000 bpd, production down 66,000 bpd, domestic demand up 609,000 bpd.
Propane prices are up slightly after the inventory report. Crude is holding on to gains made earlier in the day.
