Propane prices rose yesterday compared to Wednesday of last week. OPIS took a four-day weekend and provided no price assessments for Thursday, December 24. Mt. Belvieu TET propane prices hit a midpoint of 72.56c/g yesterday, and Conway prices averaged 69.50c/g, compared to 69.94c/g and 66.00c/g last Wednesday, respectively. Energy futures lost ground yesterday, meanwhile, with WTI falling 1.3%, Brent dropping 0.8% lower, and NYMEX natural gas futures taking an 8.5% tumble with warmer weather forecasts.
Propane Spots and Spread (Conway | Mt. Belvieu)
Crude futures were back in the black this morning, seeing gains of about one percent as of this writing amid strength in global equities and weakness in the US dollar index, in thin trade as market participants kept an eye on developments with a measure headed to the Senate to increase direct payments to individuals from $600 to $2,000 as part of a coronavirus relief package. Propane prices were seeing similar percentage gains this morning, with Mt. Belvieu TET up 1.2% (88 points) at 73.44c/g (non-TET at 72.88c/g) and Conway spots up 1.4% (one cent) at 70.50c/g. The north-south spread remained near 3 cents. Natural gas futures on NYMEX were rebounding some today, up 3.8%.
Total US Propane Stocks
