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.