NGL MARKET RECAP
| January 15, 2014
January 15, 2014
Propane: US propane inventories fell by -3.8m bbl to 38.7m bbl for the week ended January 10, 2014, which is -14.8m bbl below the five-year average. PADD 3 inventories fell by -8%, or -1.9m bbl, to 21.3m bbl. PADD 2 stocks fell -12%, or -1.5m bbl, to 11.5m bbl, and in PADD 1, stocks decreased by -3% or -118k bbl to stand at 3.7m bbl. Implied demand increased +1% to 1.7 mb/d; imports were up +17% to 146 kb/d reflecting the arrival of a propane cargo in PADD 1A from Northwest Europe, and.....
NGL MARKET RECAP
| January 08, 2014
January 8, 2014
Propane: US propane inventories fell by -3.4m bbl to 42.4m bbl for the week ended January 3, 2014, which is -13.2m bbl below the five-year average. PADD 3 inventories fell by -8%, or -2.1m bbl, to 23.2m bbl. PADD 2 stocks fell -9%, or -1.2m bbl, to 13.1m bbl, and in PADD 1, stocks decreased by -95k bbl to stand at 3.8m bbl. Implied demand increased +22% to 1.7 mb/d; imports were up +19% to 125 kb/d and production increased +1% to 1.47 mb/d last week. In Focus: Northeast propane Des.....
NGL MARKET RECAP
| January 03, 2014
January 3, 2014
Propane: US propane inventories fell by -1.5m bbl to 45.9m bbl for the week ended December 27, 2013, which is -11.2m bbl below the five-year average. PADD 3 inventories fell by -2.1%, or -836k bbl, to 25.3m bbl. PADD 2 stocks fell -5.8%, or -877k bbl, to 14.3m bbl, and in PADD 1, stocks increased by +17k bbl to stand at 3.9m bbl. Implied demand decreased -9% to 1.41 mb/d; imports declined by -10% to 105 kb/d and production increased +1% to 1.45 mb/d last week.
NGL MARKET RECAP
| December 27, 2013
December 27, 2013
Propane: US propane inventories fell by -2.5m bbl to 47.4m bbl for the week ended December 20, 2013, which is -11.5m bbl below the five-year average. PADD 3 inventories fell by -4.5% to 25.9m bbl. PADD 2 stocks fell -5.1%, or -801k bbl, to 15.1m bbl, and in PADD 1, stocks declined by -274k bbl to 3.9m bbl. Implied demand decreased -4% to 1.55 mb/d; imports declined by -3% to 117 kb/d and production increased +2% to 1.44 mb/d last week.
NGL MARKET RECAP
| December 18, 2013
December 18, 2013
Propane: US propane inventories fell by -2.7m bbl to 50.0m bbl for the week ended December 13, 2013, which is -10.7m bbl below the five-year average. PADD 3 inventories fell by -4.3% to 27.1m bbl. PADD 2 stocks fell -5.8%, or -988k bbl, to 16.0m bbl, and in PADD 1, stocks declined by -266k bbl to 4.2m bbl. Implied demand increased +4% to 1.62 mb/d; imports declined by -9% to 121 kb/d and production dropped -5% to 1.41 mb/d last week.
NGL MARKET RECAP
| December 11, 2013
December 11, 2013
Propane: US propane inventories fell by -1.7m bbl to 52.6m bbl for the week ended December 6, 2013, which is -10.6m bbl below the five-year average. PADD 3 inventories increased for the first time in 12 weeks, adding a scant +100k bbl to stand at 28.3m bbl. PADD 2 stocks drew -1.5m bbl to 17m bbl reflecting heightened demand for the heating fuel, similar to PADD 1, where stocks declined by -189k bbl to 4.5m bbl. Implied demand decreased -7% to 1.56 mb/d; imports increased by +6% to 133 k.....
NGL MARKET RECAP
| December 04, 2013
December 4, 2013
Propane: US propane inventories fell by -2.7m bbl to 54.3m bbl for the week ended November 29, 2013, which is -9.8m bbl below the five-year average. PADD 3 inventories fell to their lowest levels since the end of May, and currently stand at 28.2m bbl. PADD 2 stocks drew -0.4m bbl while PADD 1 stocks posted a small gain. Implied demand increased +10.4% to 1.68 mb/d; imports were down by -6.0% to 126 kb/d and production was slightly lower at 1.46 mb/d last week.
NGL MARKET RECAP
| November 27, 2013
November 27, 2013
Propane: US propane inventories fell by -1.4m bbl to 56.9m bbl for the week ended November 22, 2013, which is -7.2m bbl below the five-year average. PADD 3 inventories fell for the ninth consecutive week, this time by -0.8m bbl and PADD 2 stocks by -0.6m bbl. Implied demand decreased -8.8% to 1.52 mb/d; imports jumped +9.8% to 134 kb/d and production was slightly higher at 1.47 mb/d last week.
NGL MARKET RECAP
| November 20, 2013
November 20, 2013
In Focus: Louisiana ethane demand With 26% of US ethylene capacity located in Louisiana and with multiple plant conversions and expansions under construction for 2015 completion, local ethane demand is seen increasing by 230 kb/d over the next two years. A new, world-scale cracker to be built by Sasol at Lake Charles in 2017 would add 95 kb/d of incremental ethane demand. The Louisiana market as a whole is short around 200 kb/d of “native” ethane and short another 300 kb/d of other NGLs, accor.....
NGL MARKET RECAP
| November 14, 2013
November 14, 2013
In place of this week’s commentary we have included additional charts that expand our analysis of US propane inventories. These will be included on a monthly basis.