COMMENTARY Postings Plunge

Principal postings in the Midwest were in freefall Thursday as prices plunged 10.5 cents to as much as 13.75 cents compared to the Monday email Update. Elsewhere, losses, although not as severe, nonetheless in many cases were a nickel to 7 cents lower. The moves down follow many postings giving up 3.75 to 4.5 cents early in the week.

Postings on the Dixie Pipeline at Apex, N.C. were down 5.5 to 7 cents, shifting prices to a low of 88.00 cents and a high of 89.33 cents/gal. At Conway, Kan., postings gave up a steep 10.5 to 13.75 cents, and prices were from 80.00 to 84.00 cents.

TEPPCO postings at Selkirk, N.Y. shed the odd 2.28 cents to 6.5 cents over the week, and Thursday prices held a wide range from 99.26 to 109.52 cents/gal. Mont Belvieu postings also held a wide range of 80.25 to 97.50 cents, and prices fell 2.5 to 5.5 cents compared to Monday.

NGL Supply Wholesale LLC lost 5.5 cents at Apex; CHS/Cenex, Crestwood Services, and NGL Supply Ltd. 6 cents; Martin Gas Sales 6.5 cents; and Alliance Energy Services and Enterprise Products 7 cents/gal. Targa Resources’ Hattiesburg, Miss. posting on the Dixie was off 7 cents.

At Conway, NGL Supply Wholesale lopped off 10.5 cents; Alliance Energy Services and CHS/Cenex 12.25 cents; and Crestwood Services 13.75 cents/gal. Enterprise Products’ posting at Kearney, Mo. fell 12 cents.

DCP/GSR was 2.28 cents lower at Selkirk; NGL Supply Wholesale a nickel; Crestwood Services an unusual 5.57 cents; CHS/Cenex 6.25 cents; and Enterprise Products 6.5 cents/gal.

At Mont Belvieu, Enterprise Products gave up 2.5 cents; Martin Gas Sales 4 cents; and CHS/Cenex and Targa Resources 5.5 cents/gal.