US exports of MTBE marked a three-year high in 2016 even as December shipments dropped to their lowest level in 22 months amid a steep drop by a key importer, according to US Energy Information Administration data released Tuesday.
US MTBE exports in December totaled 827,000 barrels, down 34% from 1.245 million barrels in November and 20% from 1.028 million barrels in December 2015, the EIA data showed. The December exports level marked the lowest since 436,000 barrels in March 2015 and the lowest for the month since 647,000 barrels in December 2009, according to the data.
Exports for 2016 reached 15.544 million barrels, the highest since 17.172 million in 2013.
Mexico returned to its typical ranking as top destination with 573,000 barrels.
Venezuela, often the second largest importer, pulled in 41,000 barrels, the second lowest total of the year and below its 2016 average of 341,000 barrels/month.
The EIA data includes only outright MTBE exports, not MTBE that has been blended into gasoline then exported.
Chile accepted 205,000 barrels in December as consumption there held between 200,000-221,000 barrels/month in 2016.
Imports into the US reached 221,000 barrels in December and totaled 3.077 million barrels for 2016.
The Netherlands sent 90,000 barrels, with 70,000 barrels from Belgium, 44,000 barrels from Argentina and 17,000 barrels from Germany.
Imported material will generally be exported to Latin America as MTBE or blended into finished gasoline for export, as the blendstock is not used in the US gasoline pool.
S&P Global Platts assessed US Gulf Coast MTBE on Tuesday at $1.9995/gal FOB USG.
US Gulf Coast MTBE pricing averaged $1.8206/gal FOB USG in December, up 15% from $1.5799/gal FOB USG in December 2015, Platts data showed.
