US propylene stocks for non-fuel use dropped 75,000 barrels in the week ending August 17, an analysis of the weekly Energy Information Administration showed Thursday.
Stocks levels were at 2.865 million barrels, down from 2.940 million barrels last week.
Moreover, the week ending August 17 brought a decrease of 100,000 barrels over a two week period from 2.965 million to 2.865 million barrels.
At time of press Thursday, spot deals were done for RGP at 45.5 cents/lb. The propylene market remained in backwardation, with few scheduled turnarounds anticipated for Q3. Also, few production issues regarding propylene were reported due to tropical storm Erin slamming into Texas shores last Thursday.
Stocks levels were at 2.865 million barrels, down from 2.940 million barrels last week.
Moreover, the week ending August 17 brought a decrease of 100,000 barrels over a two week period from 2.965 million to 2.865 million barrels.
At time of press Thursday, spot deals were done for RGP at 45.5 cents/lb. The propylene market remained in backwardation, with few scheduled turnarounds anticipated for Q3. Also, few production issues regarding propylene were reported due to tropical storm Erin slamming into Texas shores last Thursday.
