US propylene stocks for non-fuel use dropped 57,000 barrels in the week ending October 12, according to the Energy Information Administration Thursday.
Stock levels were at 1.907 million barrels, down from 1.964 million barrels the previous week, which still puts them at the lowest levels since the week ending April 30, 2004 when stock levels were at 1.850 million barrels.
The EIA data mean stocks have recorded a total decrease of 797,000 barrels in the five weeks leading to October 12.
The significant drop in stock levels comes after RGP spot prices reached their highest price levels for 2007 at 51.25-51.50 cents/lb on Wednesday.
Stock levels were at 1.907 million barrels, down from 1.964 million barrels the previous week, which still puts them at the lowest levels since the week ending April 30, 2004 when stock levels were at 1.850 million barrels.
The EIA data mean stocks have recorded a total decrease of 797,000 barrels in the five weeks leading to October 12.
The significant drop in stock levels comes after RGP spot prices reached their highest price levels for 2007 at 51.25-51.50 cents/lb on Wednesday.
