US propylene stockpiles climb for second straight week.
US propylene stocks rose to 4.117 million barrels in the week ended August 23, according to US Energy Information Administration data released Wednesday.
Petrotahlil :The increase also represented a second consecutive weekly increase for propylene inventory.
The uptick comes on the heels of lower stockpiles, with levels having reached the lowest level of 2019 as recently as the week of August 9.
Non-fuel use propylene stocks rose 114,000 barrels from a week earlier, though this week's inventory was still up by 958,000 barrels from the same time a year earlier.
The week-on-week increase in US propylene stocks came alongside slightly lower refinery utilization rates, which dropped 0.7% to 95.2% on the week.
There have not been any disruptions to propylene production in the last two weeks with one propylene trader stating that "heavy cracking has had a hand in increasing production."
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