On June 1st, Mont Belvieu propane non-TET fell to 70 cnts/gal from about 150 cnts/gal six months earlier, down more than 50%. See Graph #1 below. But over the past couple of weeks the propane price has rebounded. On Friday the OPIS propane number was up to 89.4. Have we hit bottom for the time being? What makes propane prices move the way they do in the first place? Today we’ll continue last Friday’s blog series that covered trading and pricing of natural gasoline, normal butane and isobutane with a deep dive into the same issues for the most famous of the NGLs – propane.
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