down ~11 mm bbbls form 2010. However demand also down about 100k bbls day. Will demand decline offset inventory decline as far as winter prices?
"Propane inventories remain below typical seasonal levels Last week, U.S. inventories of propane grew for the eighteenth consecutive week, adding 1.7 million barrels of new stocks to end at 52.0 million barrels total. However, stocks are currently almost 15 percent lower than the same week last year and almost 13 percent lower than the 5-year average level for this time of year. The largest gain occurred in the Midwest region with 1.6 million barrels of new stocks. The East Coast and Rocky Mountain/West Coast regions each gained 0.1 million barrels. The Gulf Coast regional inventories fell by 0.1 million barrels. Propylene non-fuel use inventories represented 4.4 percent of total propane inventories"