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Propane prices strengthened slightly on Monday, while crude futures rallied. Brent crude jumped 2.4% and WTI crude futures shot up 3.0% following news that Moderna's COVID-19 vaccine appeared to be nearly 95% effective, following similar news from Pfizer on its vaccine. Additionally, there was talk that OPEC+ is considering rolling its current level of output cuts, rather than relaxing the ceiling by 2mb/d on January 1. Mt. Belvieu TET propane prices edged up 0.3% or 19 points to 55.50c/g, and Conway prices added 0.6% or 31 points, hitting 54.44c/g. Meanwhile, NYMEX natural gas futures plunged 10% lower with a weaker heating degree day outlook.
Crude futures were trading slightly south of the unchanged mark today as US and European shares mostly weakened, even as the US dollar index was falling for a fourth consecutive session. Market participants awaited the conclusion of the OPEC+ Joint Ministerial Monitoring Committee, keen to see if it would recommend any change in policy. Natural gas futures were see-sawing about the unchanged mark this morning. Propane prices, meanwhile, were falling fairly sharply. Mt. Belvieu TET prices were down 2.4% (1.31 cents) at 54.19c/g (non-TET at parity), and Conway spots were off 1.3% (69 points) at 53.75c/g. 
