US Spot NGLs Prices Finish mostly Higher with Oil Futures
HOUSTON (DTN) -- U.S. spot NGLs prices finished mostly higher at the major
supply hubs Thursday with support from advancing New York Mercantile Exchange
NYMEX July West Texas Intermediate crude oil futures settled up $1.14 or
2.2% at $52.28 bbl while nearby NYMEX RBOB futures rose 3.38cts or 2% to a
$1.7199 gallon settlement.
Mont Belvieu non-LST spot propane traded late Tuesday at 41.5cts gallon, up
1.375cts or 2.8% from the day prior, and Enterprise spot propane advanced
0.875cts or 2.2% at 40.5cts gallon.
Conway spot propane changed hands late session at 38.75cts gallon, up 0.5cts
from a 34-month low finish the day prior, while Hattiesburg spot propane traded
1cts higher at 46.5cts gallon.
In other NGLs spot markets, Mt. Belvieu non-LST normal butane changed hands
at 46.125cts gallon, up 0.875cts.
Conway normal butane, which finished at a more than 40-month low the day
prior, advanced 1.5cts Thursday 40cts gallon.
Non-LST isobutane traded 2.125cts higher at 49.25cts gallon while Conway
isobutane was valued 0.25cts lower at 42cts gallon.
Mt. Belvieu non-LST natural gasoline changed hands late session at 101.75cts
gallon, up 3.75cts after dropping 6cts the day prior, and Conway natural
gasoline advanced 4cts at 97.5cts gallon after sinking 5.75cts on Wednesday.
Non-LST e/p mix was assessed flat at 13.875cts gallon while Conway e/p mix
was valued 1.375cts higher at 1.5cts gallon.
Gulf Coast purity ethane edged down 0.125cts at 16.375cts gallon, a fresh
more than 16-month low.
In related markets, NYMEX July natural gas futures settled down 6.1cts
Thursday at $2.325 MMBtu, near a more than three-year low $2.324 MMBtu
settlement seen seven days prior.
The Energy Information Administration midmorning reported natural gas held
in U.S. storage increased an about-as-expected 102 Bcf in the week-ended June 7
to 2.088 Tcf. Injections into domestic natural gas storage have exceeded 100
Bcf in six of the past seven weeks, according to EIA data.
The 102 Bcf injection into working gas in the week-ended June 7 compares
with a 95 Bcf increase in the same week last year and a five-year average build
of 92 Bcf.
At 2.088 Bcf on June 7, U.S. natural gas supplies were up 189 Bcf or 10%
from the same time in 2018 but down 230 Bcf or 9.9% below the five-year average
of 2.318 Tcf.
Alton Wallace, 1.832.646.9229, Alton.Wallace@dtn.com , www.dtn.com.
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