Gulf Coast, Midwest Spot Propane Prices continue Higher
9/23 4:32 PM
Gulf Coast, Midwest Spot Propane Prices continue Higher OAKHURST, N.J. (DTN) --- Gulf Coast spot propane prices held to the upside Thursday, supported by a better than $1 rally by benchmark crude oil futures as well as continued supply worries. Midweek data from the Energy Information Administration detailed an unexpected draw in domestic propane/propylene supplies through Sept. 17 amid a third weekly production decline. At 2.163 million bpd, total propane/propylene output was at the lowest level since early March. Data also show PADD 3 production at the lowest level since early March and stocks there fell to a 10-weeks low, with the draw this week marking the fourth consecutive downturn. Non-LST spot propane gained 1.12cts to 134.5cts gallon, a level not seen since February 2014 while the LST spot price gained near a penny to 134.25cts gallon, also a price point not seen since in more than 7-1/2 years. At the Conway hub, prompt propane rose 1.25cts to 135cts gallon. Dawn Gallagher, 1.732.531.4451, dawn.gallagher@dtn.com, http://www.dtn.com. (c) Copyright 2021 DTN, LLC. All rights reserved.
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN