Insight
All the Way Up – Four Reasons propane stocks could reach record highs this winter
Report summary
Entering this winter, propane stocks are abnormally high. EIA reported monthly US propane inventories for August were at 96.3 MMbbls, 4.1 MMbbls below the highest-ever recorded propane stocks (100.3 MMbbls in September 2020). EIA weekly propane stocks for the week ending Nov 24th, were at 98.7 MMbbls, 8.9% higher than this time last year. US propane stocks have increased by more than 40% since the start of the year due to weak global demand for exports and strong local supply. In November month-to-date, Mont Belvieu propane prices have been averaging 63.8 c/gal, about 34% of WTI. With winter rolling in, the question on everyone’s mind is - "What could happen to US propane stocks?". In this insight, we highlight four reasons why propane stocks could reach record highs.
Table of contents
- Executive Summary
- Four Reasons propane stocks could reach record highs this winter
- Conclusion
Tables and charts
This report includes 5 images and tables including:
- NOAA Seasonal Temperature Outlook
- US PDH Capacity Utilization
- Gatun Lake water levels
- Propane gas production history and forecast
- US Propane Stocks
What's included
This report contains:
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