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US Spot NGLs Prices End Mixed while Oil Futures Advance
2/15 4:44 PM
US Spot NGLs Prices End Mixed while Oil Futures Advance ORANGE BEACH, Ala. (DTN) -- U.S. spot NGLs prices finished mostly lower in light overall trade at the key supply hubs Thursday, as propane retreated and natural gasoline posted modest gains while New York Mercantile Exchange crude oil futures moved higher. At settlement, NYMEX March West Texas Intermediate crude oil futures were up 74cts at $61.34 bbl and the nearby RBOB futures contract was 2.28cts higher at $1.7358 gallon. Trade in spot propane was on the light side Thursday with deal-volume at the Texas supply hubs at 390,000 bbl while 45,000 bbl transacted at the Conway hub. At Mont Belvieu, LST spot propane traded late session at 81.75cts gallon, down 2.25cts, and Enterprise spot propane was done 3.5cts lower at 87.5cts gallon. Enterprise spot propane was valued late session at 59.9% of nearby WTI crude futures, up from 56.6% at the same time last week. Targa spot propane changed hands midafternoon at 87.0cts gallon, down 4.0cts from a deal done early session the day prior. Conway spot propane traded near midday at 72.0cts gallon, down 1.75cts, while Hattiesburg was done early session at 90.0cts gallon and pegged at the same value near market close. In other U.S. NGLs spot markets, Mt. Belvieu non-LST normal edged 0.125cts higher at 91.0cts gallon and Conway normal butane finished at 79.25cts gallon, up 0.25cts. Mt. Belvieu non-LST isobutane traded 1.0cts lower at 94.0cts gallon while Conway isobutane was seen at 90.5cts gallon, up 0.5cts. Mt. Belvieu non-LST natural gasoline traded late session at 133.125cts gallon, up 2.375cts, and Conway natural gasoline advanced 2.25cts at 131.75cts gallon, a one-week high. Mt. Belvieu e/p mix was assessed at 22.625cts gallon, down 1.125cts, while Conway e/p mix was down 0.5cts at 14.25cts gallon. Gulf Coast purity ethane traded 0.375cts lower at 24.0cts gallon. In related markets, NYMEX March natural gas futures settled 0.7cts lower at $2.580 MMBtu. EIA midmorning reported natural gas held in U.S. storage dropped about 194 Bcf in the week-ended Feb. 9 to 1,884 Bcf, the lowest level since May 2015. As of Feb. 9, working gas in domestic storage was down 577 Bcf or 23.4% from the same time in 2017 and 433 Bcf or 18.7% below the five-year average of 2,317 Bcf. Alton Wallace, 1.832.646.9229, Alton.Wallace@dtn.com, www.dtn.com. (c) 2018 DTN. All rights reserved.