COMMENTARY: Deep Discounts
Building on more modest moves lower early in the week, Thursday, March 12 saw principal postings shed additional value. Prices gave up a minimum of 1.5 cents but as much as 12.5 cents compared to the Monday email Update, with losses of a nickel and more common. Early-week discounts were in a range of a half cent to 4.5 cents.
Postings on the Dixie Pipeline at Apex, N.C. were off 2 to 8 cents, shifting prices to a low of 69.50 cents and a high of 75.08 cents/gal. Conway, Kan. postings gave up 4 to 4.25 cents, and prices were from 53.82 to 55.25 cents.
TEPPCO postings at Selkirk, N.Y. lost 1.5 cents to a steep 12.5 cents between the two reporting periods, pushing all prices under a dollar in a range of 94.22 to 99.86 cents/gal. Mont Belvieu postings, which ranged from 61.00 to 69.00 cents, fell 4 to 6 cents over the week.
NGL Supply Wholesale LLC was 2 cents lower at Apex; Alliance Energy Services and Enterprise Products 5.5 cents; Martin Gas Sales 6.5 cents; Crestwood Services 6.75 cents; NGL Supply Ltd. 7.5 cents; and CHS/Cenex 8 cents/gal. Targa Resources’ posting at Hattiesburg, Miss. on the Dixie fell 4 cents.
At Conway, Crestwood Services and NGL Supply Wholesale lopped off 4 cents, and Alliance Energy Services and CHS/Cenex 4.25 cents/gal. Enterprise Products’ posting at Kearney, Mo. slipped 3.75 cents.
DCP/GSR gave up 1.5 cents at Selkirk; Crestwood Services a nickel; CHS/Cenex 5.5 cents; Enterprise Products 9.5 cents; and NGL Supply Wholesale 12.5 cents/gal.
Targa Resources discounted 4 cents at Mont Belvieu; CHS/Cenex 5 cents; Enterprise Products 5.375 cents; and Martin Gas Sales 6 cents/gal.
Postings on the Dixie Pipeline at Apex, N.C. were off 2 to 8 cents, shifting prices to a low of 69.50 cents and a high of 75.08 cents/gal. Conway, Kan. postings gave up 4 to 4.25 cents, and prices were from 53.82 to 55.25 cents.
TEPPCO postings at Selkirk, N.Y. lost 1.5 cents to a steep 12.5 cents between the two reporting periods, pushing all prices under a dollar in a range of 94.22 to 99.86 cents/gal. Mont Belvieu postings, which ranged from 61.00 to 69.00 cents, fell 4 to 6 cents over the week.
NGL Supply Wholesale LLC was 2 cents lower at Apex; Alliance Energy Services and Enterprise Products 5.5 cents; Martin Gas Sales 6.5 cents; Crestwood Services 6.75 cents; NGL Supply Ltd. 7.5 cents; and CHS/Cenex 8 cents/gal. Targa Resources’ posting at Hattiesburg, Miss. on the Dixie fell 4 cents.
At Conway, Crestwood Services and NGL Supply Wholesale lopped off 4 cents, and Alliance Energy Services and CHS/Cenex 4.25 cents/gal. Enterprise Products’ posting at Kearney, Mo. slipped 3.75 cents.
DCP/GSR gave up 1.5 cents at Selkirk; Crestwood Services a nickel; CHS/Cenex 5.5 cents; Enterprise Products 9.5 cents; and NGL Supply Wholesale 12.5 cents/gal.
Targa Resources discounted 4 cents at Mont Belvieu; CHS/Cenex 5 cents; Enterprise Products 5.375 cents; and Martin Gas Sales 6 cents/gal.
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