Liquidity Energy NGL Update 03/22/2017
The below is the text from a new weekly NGL report that Liquidity Energy publishes--if you would like to subscribe to our email report with full data tables, please message me your contact information.
The EIA stats released this morning showed US propane stocks basically unchanged (see table below), continuing the bearish sentiment in the market. Post-stats, both flat price and structure weakened further, with MB spot propane ending the session down .0125 $/Gal. Cal 18 MB propane remains around 48% of the WTI swap, a level that is ending the session down .0125 $/Gal. Cal 18 MB propane remains around 48% of the WTI swap, a level that is keeping producer hedging on the sidelines.
Activity in the other NGL's was light today as most trading centered around propane after the stats release. Ethane ended up down .015 $/Gal, pressured by lower NG levels, and an erosion of the march premium. Normal Butane was down .0025 $/Gal, while Natural Gasoline was up ~ .01 $/Gal in very light trading.