Propane exports pick up before tariffs kick in
April 17, 2025
The propane inventory report had supplies down 1.284 million barrels, putting total US supplies at 44.367 million and last year at this time there were 55.694. Midwest inventories were up 189,000 barrels putting total Midwest inventories at 9.764 and last year there were 12.540. Gulf Coast inventories were down 1.201 million barrels putting total Gulf stocks at 28.354 million and last year there were 35.5539 million barrels. Exports were 1.966 million bpd up 227,000 bpd as this was probably the last push to get barrels exported from the Gulf before tariffs kicked in and raised propane price substantially.
The DOE inventory report had crude oil up 520,000 barrels putting total stocks at 442.86 and last year there were 459.993. Gasoline supplies were down 1.958 million barrels, putting total supplies at 234.019 million and last year there were 227.377. Distillates were down 1.851 million barrels, putting total supplies at 109.231 and last year there were 114.968 million.
Today is the last trading day of the week as the markets are closed for Good Friday. Today has already seen traders covering for the long weekend. This will likely be the theme of the day and nothing big will take place and we will start new on Monday.
President Trump uses chaos to create negotiations. The markets do not like chaos and or uncertainty and are reacting to the current situation. President Trump will need to reassure these markets, and the US consumer that all will be well in the end.