Propane Prices - Feb 2

[dan_s]

Trading Economics:
Propane is up 15% this morning, up $0.12/gallon to $0.93/gallon.
"According to the latest EIA data, US propane inventories dropped to 67.9 million barrels on the week to January 19th, 75.6 million barrels below the same period a year earlier and marking the lowest reading since May 2023. Furthermore, elevated crude oil costs from Middle East conflict underpinned the commodity. Being a by-product of crude oil refining and natural gas processing, propane is intricately linked to the availability of the former."

The U.S. now has a lot more export capacity for propane and other liquified petroleum gases (LPG). This is a "ray of hope" for the gassers.