Midwest, Gulf Coast Spot Propane Prices Extend Losses
12/14 4:25 PM
Midwest, Gulf Coast Spot Propane Prices Extend Losses OAKHURST, N.J. (DTN) --- Spot propane prices in Midwest and Texas Gulf Coast trade markets held lower Thursday afternoon following the midweek release of federal data showing a second consecutive weekly build in domestic propane/propylene supplies. Energy Information Administration data for the week-ended Dec. 8 detailed a roughly 200,000 bbl build in domestic propane/propylene inventories to 74.668 million bbl. Over the past two weeks, supplies have increased 1.514 million bbl versus a drop of about 5.2 million bbl during the same two-week period a year earlier. At the current level, total propane/propylene supplies are about 22% lower than the same week last year and 7.3% below the five-year average. At 1.388 million bpd, EIA data shows implied propane/propylene demand for the week profiled rose 102,000 bpd from the prior week but was down 114,000 bpd from the corresponding week in 2016. Trade sources pegged Mont Belvieu LST spot propane at 89.25cts gallon after deals form 88.375cts to 99.0cts gallon. Spot price fell 2.5cts on the session. Enterprise spot propane was also down 2.5cts on the day, pegged last at 89.25cts gallon. At the Conway hub, spot propane slid more than 3.0cts to 82.5cts gallon while Hattiesburg propane at 93.75cts gallon dropped 1.75cts. In other markets, Mt. Belvieu non-LST normal butane was talked at 97.0cts gallon, down 2.0cts while isobutane declined 1.75cts to 97.25cts gallon. Spot natural gasoline gained 0.75cts to 132.25cts gallon. Conway normal butane was last seen at 97.25cts gallon, down 1.25cts while natural gasoline edged up 0.25cts to 125.5cts gallon and spot isobutane fell 1.5cts to 101.75cts gallon. Dawn Gallagher, 1.732.531.4451, dawn.gallagher@dtn.com, www.dtn.com. (c) 2017 DTN. All rights reserved.