Warm Weather Helps Balance Lower Propane Stocks
December 2, 2021
Propane inventories were down 952,000 gallons a little less than the expectations. Total propane stocks sit at 72.660 million barrels and last year at this time there were 91.718 million barrels a negative (19.058) million barrel difference. Midwest stocks were down 417,000 barrels putting total Midwest stocks at 24.393 million and last year there were 25.748 million a negative (1.355) million barrel difference. Gulf Coast stocks were down 398,000 gallons putting total Gulf Coast stocks at 34.604 million barrels and last year there was 51.218 million barrels a negative (16.614) difference. Stocks are still low but at this point, the weather has been very warm and has not generated any demand for propane. That is what the propane market needs are some demand. If we rock along mild for the rest of the winter, then the price will continue to be soft.
DOE inventory report had crude oil stocks down 910,000 barrels putting total stocks at 433.111 and last year there were at 488.042 a negative (54.931) million barrels difference. Cushing, Ok crude stocks were up 1.159 million barrels putting Cushing total crude stocks at 28.544 million and last year there were 59.575 million barrels a negative (31.031) million barrel difference.
Gasoline stocks were up 4.03 million barrels putting total stocks at 215.422 million barrels and last year there were at 233.638 million a negative (18.216) million barrel difference.
Distillate stocks were up 2.16 million barrels putting total stocks at 123.877 million barrels and last year at this time there were 145.870 million barrels a negative (21.993) million barrels difference.