The Urethane Blog

Propylene Inventories

US propylene stockpiles surpass 5 million barrels

Houston — US propylene inventory moved above the 5 million barrels mark to end 2018 at a 41-month high, data released by the Energy Information Administration showed Friday.

US non-fuel use propylene inventories for the week ending December 28 were at 5.077 million barrels, up 260,000 barrels from a week earlier.

It was the third consecutive week for the domestic propylene inventory to rise, and the first time for stockpiles to cross 5 million barrels mark since the week of July 17, 2015.

The increase came alongside higher refinery utilization rates, which moved up 2.1% to 97.2%.

US propylene spot prices were down early Friday, following the EIA data report. Prompt polymer-grade propylene bid/offers were at 35.50-37.75 cents/lb FD USG Friday morning, down from prices Thursday’s assessment of 38.75 cent/lb FD USG.

–Brian Balboa, brian.balboa@spglobal.com

–Edited by Pankti Mehta, pankti.mehta1@spglobal.com

https://www.spglobal.com/platts/en/market-insights/latest-news/petrochemicals/010419-us-propylene-stockpiles-surpass-5-million-barrels?utm_source=twitter&utm_medium=social&utm_content=news&utm_term=we-pet&hootpostid=866b1568d08335693fa5472dd8a4aa22