U.S. propane/propylene stocks fell more than 3 million bbl in the week ending Dec. 16 as cold weather blasted the U.S, and heating demand rose.
Stocks fell 3.1 million bbl to 92.5 million bbl, the Department of Energy (DOE) said earlier this week.
Sharp inventory draws were seen in the eastern half of the U.S. East Coast (PADD 1) as stocks fell 500,000 bbl to 6.5 million bbl. The bulk of the draw was seen in the Central Atlantic states. Midwest (PADD 2) stocks fell 1.1 million bbl to 24.8 million bbl. Gulf Coast (PADD 3) stocks fell 1.3 million bbl to 57.8 million bbl.
Total U.S. stocks are down 11.5 million bbl from the 2016 high of...