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April Propane Build Above 5-Year Average

The April build in primary inventories of propane totaled nearly 4.6 million barrels, 11 percent above the most recent 5-year average of about 4.1 million barrels. Nevertheless, as of May 2, 2008, propane inventories stood at an estimated 29.8 million barrels, a level that continues on a path near the bottom of the average range for this time of year. Last week, propane inventories grew by 1.3 million barrels, boosted higher by the strong gain in Midwest inventories that totaled 1.1 million barrels. Elsewhere, inventories managed gains in the East Coast and Gulf Coast regions with similar increases of 0.1 million barrels, while in the combined Rocky Mountain/West Coast region, inventories remained virtually unchanged during this same period. Propylene non-fuel use inventories gained about 0.1 million barrels last week, and accounted for a slightly lower 7.3 percent share of total propane/propylene inventories compared with the prior week.