DOE Inventory Report: Propane Surplus Disappears
October 29, 2026
The latest U.S. Department of Energy (DOE) inventory report showed crude oil supplies down 1.89 million barrels, gasoline inventories up 3.87 million barrels and distillate inventories down 1.46 million barrels.
Total crude oil inventories stand at 410.625 million barrels, compared with 415.966 million barrels at this time last year and a three-year average of 421.123 million barrels.
Gasoline inventories total 209.180 million barrels, below last year’s 210.738 million barrels and the three-year average of 215.043 million barrels.
Distillate inventories are at 102.824 million barrels, well below last year’s 112.189 million barrels and the three-year average of 112.115 million barrels.
Propane inventories declined by 111,000 barrels, bringing total U.S. stocks to 105.735 million barrels. That puts supplies nearly even with last year’s 105.681 million barrels, eliminating the year-over-year surplus.
Strong exports have contributed to the recent drawdown, and that trend is expected to continue. However, the pace of exports will need to be weighed against the potential for weaker domestic demand if forecasts for a milder winter hold. Renewed escalation in either of the ongoing wars could also disrupt shipping and affect export volumes.
Midwest propane inventories fell by 876,000 barrels to 25.207 million barrels. Supplies are below both last year’s 28.196 million barrels and the five-year average of 26.872 million barrels.
Gulf Coast inventories declined by 383,000 barrels to 65.556 million barrels. Despite the weekly draw, supplies remain above last year’s 62.592 million barrels and well above the five-year average of 52.937 million barrels.