Short-term tank car sublease rates traded flat this week as winter weather moderated in many parts of the U.S. and other products received some focus. However, many parts of the U.S. are expected to see snow in the first weekend of February.
The Department of Energy (DOE) reported that U.S. propane/propylene stocks fell 0.9 million bbl to 53.1 million bbl in the week ending Jan. 26. Stocks were down 15.3% from year-ago levels.
The crude oil market continued to see a good amount of attention by the energy transport market as a considerable price spread was seen between Canadian crude oil and U.S. crude oil and that increased the level of activity for the Canadian product.