Key Takeaways:
-
U.S. propane exports to Europe surged **.** to *.*** million bpd in early October.
-
Butane demand spiked due to winter gasoline blending and low ARA inventories.
-
Freight costs rose *.**, offsetting decline in Brent crude to USD **/bbl.
-
LPG Bullish outlook for November with expected pre-Christmas stockpiling and demand recovery.
With Europe&#**;s energy markets adjusting to a tight supply and seasonal changes, liquefied petroleum gas (LPG) prices in Germany have remained relatively stable over the last week of October, at USD *,***/ MT LPG, FD, Hamburg. This sideways movement against a background of weakening crude oil benchmarks highlights the bullish sentiment sparked by active trading and supply tightness for LPG.
Central to this change is an escalating bidding interest in the European propane large cargo sector, spot volumes are increasing by some *** week on week. Traders are reporting a tightening contango in the forward curve, suggesting an...
Leave a Comment
Comments (0)