Mid-Month to Mid-Month: Time to Take a Breather

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Prices appear to be taking a minute to regroup and determine where the path heads. As it was a month ago, it seems that uncertainty continues to be the keyword. At Mont Belvieu, posted prices are keeping well above the 50-cent/gal. level, while spots at both Belvieu and in the Group, as well as the Group’s posted prices, seem determined to straddle the half-dollar mark.

Belvieu posted prices halted their early-2015 downward trend around the 62-cent/gal. mark, moving to 65.313 cents and then backing off to 63.250 cents the end of January. Going into February, postings added more than 3 cents to climb to 66.750 cents. By mid-month they had edged still higher to 68.187 cents.

At Conway, the Midwest hub, postings appeared to take a breather from the turmoil of the past few months. After holding in the 48-cent range during the early portion of January, they moved above the half-dollar mark to 51.458 cents, only to back down to 49.020 cents by the end of the month. February saw them bounce back to 51.708 cents, and then to a more robust 55.770 cents another week into the month.

Holding to the prior month’s pattern, Mont Belvieu spot market prices have been in a narrow range, but with prices bouncing both above and below the 50-cent mark. Spots that had been in the 46- to 47-cent range jumped to 51.50-52.375 cents and then back to 46.75-47.00 cents the end of January. Early February saw another bounce back to 53.25-53.875 cents, and then to mid-February’s 55.875-56.50 cents.

Spot propane prices in the Group also moved narrowly, but definitely did not hold still. After hitting the mid-40s the middle of January, they garnered a bit of strength to nudge them up to 46.25-47.375 cents/gal. However, month’s end found them backing off to 43.00-44.50 cents. The first week of February saw spots nearer to a half dollar, coming in at 48.00-49.00 cents/gal., and then to 52.25-53.50 cents to round out the period.

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