C3 prices, inventories show modest increases

US Propane - Second Quarter 2005Propane prices and inventories increased slightly in second-quarter 2005.Average propane prices rose to 81¢/gal and 85¢/gal at Mont Belvieu, Tex., and Conway, Kan., respectively in June 2005. West Texas Intermediate (WTI) rose to a record of more than $60/bbl then fell back as the quarter ended.Propane stocks increased to 50.6 million bbl, which is greater than the 5-year average. Petrochemical demand declined but remained strong at 349,000 b/d during second-quarter 2005.Extraction rates were normal at 528,000 b/d. July natural gas bid week cash prices averaged $7.37/MMbtu on the Texas Gulf Coast. Refinery production continued at below normal rate...

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