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Houston — US stocks of propylene for non-fuel use increased in the week ended August 15, representing a seventh consecutive week of growth, Energy Information Administration data showed Wednesday.
Non-fuel use propylene stocks increased by 151,000 barrels last week to 3.108 million barrels, EIA data showed. Stock levels were also up by 284,000 barrels from the year-ago week.
The increase in inventory comes as production levels remain strong with all three propylene dehydrogenation units in the US online and running. US refinery run rates were at 98.1% last week, no change from the week prior. Refinery rates were up, however, by 2.7 percentage points from the year-ago week.
In the spot market, US polymer-grade propylene was assessed Tuesday at 58.00 cents/lb FD USG for August delivery, flat on the day.
US spot refinery-grade propylene was at 44.25 cents/lb FD USG on a three- to 30-day basis on Tuesday, up 0.50 cent on the day.