en.Wedoany.com Reported - According to data from the NGL Voyager Report, U.S. propane exports averaged 2.1 million barrels per day (b/d) in May, setting a new all-time high, surpassing the record set in April and marking the first time total U.S. propane exports exceeded 2 million b/d. RBN's vessel tracking methodology aligns with the U.S. Energy Information Administration's (EIA) weekly estimates for May, which also showed an average of 2.1 million b/d. The export growth was primarily attributed to increased volumes from Enterprise's Neches River flex terminal. Phase II of the terminal came online in April, with a capacity to export 360,000 b/d of propane or 180,000 b/d of ethane, or a blend of both.

The continued growth in propane exports from the Neches River coincided with declining propane/propylene inventories in weekly reports throughout May, particularly in PADD 3. For most of the year, inventory surpluses have made it difficult for propane prices to maintain a higher ratio relative to crude oil. If propane exports can continue to draw down inventories during the summer stock-building season, and if the Iran conflict pushes crude oil prices higher in the coming months, propane prices could see an uptick during the summer.

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