According to Wells Fargo Securities, LPG export demand was expected to be strong as new infrastructure came online, but it is outpacing previous forecasts. Propane prices rose 20% on the back of increased liquefied petroleum gas (LPG) export demand and an anticipation of a strong crop-drying season that resulted in farmers pre-buying propane.
it is important for more than just one NGL price to improve in order to post composite gains.
Since ethane makes up such a large portion of the bbl. Energy Information Administration, was comprised 37% of ethane, 32% propane, 8% butane, 10% isobutane and 14% C5 +. in May, the most recent data available from the U.S. The report noted that the average NGL bbl. Composite prices rose to more than $1 per gallon (gal.) during this timeframe. In this way, C5 + is more closely akin to ethane, which is priced based on market dynamics.Īccording to Wells Fargo Securities’ August NGL Snapshot, NGL prices rose 12% from the end of July through the start of August despite a downturn in ethane prices as the rest of the bbl. Unlike propane and the two butanes, C5 + isn’t as tied to seasonal demands as its primary end-use market is by refineries as a blending feedstock and oil sands producers as a diluent. However, one aspect of this growth that has largely been ignored has been that of natural gasoline (C5 +). The start of the second-half of the fiscal year has seen natural gas liquid (NGL) prices improve with much of the credit being given to propane, which has posted the largest gains of any other product in the NGL barrel (bbl.).
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