Thursday, June 18, 2020
Energy prices remain subject to “heightened levels of uncertainty because mitigation and reopening efforts related to COVID-19 are still evolving,” is the analysis offered in the most recent EIA SEO. It continues, “Reduced economic activity related to the COVID-19 pandemic has caused significant changes in energy supply and demand patterns in 2020, particularly for petroleum and other liquid fuels. Uncertainties persist across EIA’s outlook for other energy sources, including natural gas…” Propane prices react to this uncertainty as well. 
Mid-May found the average posted price at Mont Belvieu at 49.340 cents/gal., stronger than a month prior’s 43.173 cents, but well below a year earlier’s price of 70.173 cents/gal. The next week the posting rose more than a nickel to 55.007 cents only to fall back to 53.923 cents to finish May. June was welcomed by prices above 58 cents to 58.590 cents, and then a minor loss to 58.340 cents. The period finished higher at 59.840 cents/gal.
Conway, Kan. posted prices added more than 8 cents/gal. from a month earlier, bringing them closer to the 50-cent range at 48.920 cents/gal. Compared to a year earlier, current prices are about 10 cents/gal. lower than the 2019 posted prices. The following week, the price strengthened to 51.632 cents, and then finished the month with a slight move backward to 49.070 cents. The first of June saw a 4.95-cent addition to nudge it to 54.020 cents, but that was reversed to 53.620 the following week. Mid-month found prices at 54.970 cents/gal.
Mont Belvieu spot propane entered the period at 40.375-41.00 cents/gal., about 6 cents above a month ago, but off a strong 19.00 cents from a year earlier. Further into May, trading strengthened, and prices with prices rising to 47.375-48.00 cents/gal., only to back off again to 44.00-44.625 cents to finish May. June saw a nickel gain to 49.25-49.875 cents, and a short dip to 48.25-48.875 cents. Mid-month found postings stronger at 50.50-51.25 cents/gal.
Conway spots opened the new period at 44.00-44.625 cents, 15.5 cents higher than a month earlier but down a sizeable 10 cents from a year prior. Offers increased 2.875 cents the following week to 46.875-47.50 cents, and then backed off to 42.75-43.00 cents to end the month. June began with a solid gain that boosted it to 48.25-48.75 cents. Moving toward mid-month, prices backed off to 47.25-47.75 cents only to jump to 49.50-49.75 cents mid-June.
SOURCE: The Weekly Propane Newsletter, June 18, 2020. Weekly Propane Newsletter subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.
Mid-May found the average posted price at Mont Belvieu at 49.340 cents/gal., stronger than a month prior’s 43.173 cents, but well below a year earlier’s price of 70.173 cents/gal. The next week the posting rose more than a nickel to 55.007 cents only to fall back to 53.923 cents to finish May. June was welcomed by prices above 58 cents to 58.590 cents, and then a minor loss to 58.340 cents. The period finished higher at 59.840 cents/gal.
Conway, Kan. posted prices added more than 8 cents/gal. from a month earlier, bringing them closer to the 50-cent range at 48.920 cents/gal. Compared to a year earlier, current prices are about 10 cents/gal. lower than the 2019 posted prices. The following week, the price strengthened to 51.632 cents, and then finished the month with a slight move backward to 49.070 cents. The first of June saw a 4.95-cent addition to nudge it to 54.020 cents, but that was reversed to 53.620 the following week. Mid-month found prices at 54.970 cents/gal.
Mont Belvieu spot propane entered the period at 40.375-41.00 cents/gal., about 6 cents above a month ago, but off a strong 19.00 cents from a year earlier. Further into May, trading strengthened, and prices with prices rising to 47.375-48.00 cents/gal., only to back off again to 44.00-44.625 cents to finish May. June saw a nickel gain to 49.25-49.875 cents, and a short dip to 48.25-48.875 cents. Mid-month found postings stronger at 50.50-51.25 cents/gal.
Conway spots opened the new period at 44.00-44.625 cents, 15.5 cents higher than a month earlier but down a sizeable 10 cents from a year prior. Offers increased 2.875 cents the following week to 46.875-47.50 cents, and then backed off to 42.75-43.00 cents to end the month. June began with a solid gain that boosted it to 48.25-48.75 cents. Moving toward mid-month, prices backed off to 47.25-47.75 cents only to jump to 49.50-49.75 cents mid-June.
SOURCE: The Weekly Propane Newsletter, June 18, 2020. Weekly Propane Newsletter subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.
