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, email@example.com, http://www.dtn.com
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