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Canadian Inventories Post Steep Fall

Canadian propane inventories fell a sharp 24.1% in December compared to November levels, shedding 240.2 Mcm to stand at 756.2 Mcm—4.8 MMbbl—as of Jan. 1, according to the National Energy Board (NEB). In a year-over-year comparison, stocks were down a steeper 29.4%, or by 314.8 Mcm.

Propane storages in the West declined 23.5%, or 130.0 Mcm, to settle at 422.7 Mcm—2.7 MMbbl—by month’s end. In the East, volumes gave up 110.2 Mcm, slipping 24.8% to begin January at 333.5 Mcm—2.1 MMbbl. For the year, inventories in western Canada were off 31.8%, or 196.9 Mcm, while eastern stocks were down 26.1%, or 118.0 Mcm.

Canadian butane supplies ended December at 639.6 Mcm, lower by 17.9%, or 139.8 Mcm, month over month. However, compared to a year ago, inventories were 28.5% higher, or by 141.7 Mcm. In the West, volumes fell 16.9%, or 89.7 Mcm, to begin the new year at 440.4 Mcm. Eastern inventories, at 199.3 Mcm, dropped 20.1% from November, or by 50.1 Mcm. Compared to last year, western supplies were up 24.3%, or by 86.2 Mcm, and in the East they were 38.7%, or 55.6 Mcm, higher.

Recapping the NEB report: