Reuters reported early on April 29 that China has decided to drop its 125% recipricol tariff on ethane imports. This comes after at least one cargo for ethane was scrapped following the implementation of the tariffs.

The U.S. Gulf Coast 3-2-1 crack spread is currently around $23.72/bbl. The diesel crack led the rally, climbing from just above $22/bbl to about $26/bbl.

After hitting a two-year high on March 10 of $4.49/MMbtu, the Henry Hub front month futures price crashed, falling below $3/MMbtu on Friday, April 25. The weekly EIA storage report was blamed for the most recent decline, with working gas in storage coming in at 1,934 Bcf as of April 18. That was

For the week of April 25, Baker Hughes reported that the Western Canadian gas-directed rig count was unchanged at 47 (blue line and text in left hand chart below), 15 less than one year ago and remained within the five-year range.