Total US propane stocks fell to their lowest level in nearly eight months amid a nationwide cold spell, with Midwest inventories taking the steepest fall, Energy Information Administration showed Wednesday.
Nationwide inventories fell 3.6 million barrels for the week ended January 25 to 60.2 million barrels, the data showed.
Coast to coast, propane stocks were 7.1 million higher compared to last year's level.
The largest draw was in the US Midwest, which saw stocks fall 1.6 million barrels week on week to 17 million barrels.
"Weather up there should be tapping inventories," a regional market source said.
Nationwide production of propane fell 25,000 barrels to 2 million barrels.
The US Gulf Coast saw the largest week-on-week production decline, down 22,000 barrels to 1.12 million barrels.
Exports saw a slight uptick, up 51,000 barrels last week to 1.1 million barrels.
