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US NGLs End Mostly Higher while Crude Oil Futures Advance
8/19 4:48 PM
US NGLs End Mostly Higher while Crude Oil Futures Advance CANYON LAKE, Texas (DTN) -- U.S. spot NGLs prices finished mostly up at the major supply hubs Monday with propane, ethane and natural gasoline posting gains and the butanes mixed while New York Mercantile Exchange crude oil futures settled sharply higher. At settlement, New York Mercantile Exchange September crude oil futures were up $1.34 at $56.21 bbl and spot-month RBOB futures were 0.76cts higher at $1.6644 gallon. Nearby Intercontinental Exchange Brent futures settled $1.10 higher at $59.74 gallon as the Brent-WTI spread narrowed to $3.53 bbl, a near 13-month low. At Mont Belvieu, LST spot propane advanced 1.625cts Monday at 37.75cts gallon while Enterprise spot propane was done 1cts higher at 39.75cts gallon, with each up from 3-1/2 year lows at the end of the prior trade session. Enterprise spot propane was valued late session at 29.7% of nearby WTI futures, a more than 49-month low. Conway spot propane changed hands late day at 31cts gallon, up 0.5cts from a 3-1/2 year low finish the trade session prior. Hattiesburg spot propane was done early session at 41.375cts gallon after not trading on ICE the session prior. In other U.S. NGLs spot markets, Mt. Belvieu non-LST normal butane rose 0.75cts at 43.75cts gallon while Conway normal butane edged 0.25cts lower at 31cts gallon. Mt. Belvieu Non-LST isobutane finished at a 9-1/2 week low 49.5cts gallon, down 4cts from the trade session prior, and Conway isobutane slid 1cts at 43cts gallon. Mt. Belvieu non-LST natural gasoline advanced 1.75cts Monday at 102cts as its discount to LST natural gasoline narrowed by 0.75cts gallon to a two-month low 1.75cts gallon. Conway natural gasoline was done 2cts higher at 101cts gallon. Mt. Belvieu non-LST e/p mix was assessed at 14.125cts gallon, up 1.375cts, while Conway e/p mix was valued 0.5cts higher at 13.5cts gallon. Gulf Coast purity ethane advanced 1.25cts at 15.75cts gallon. In related markets, NYMEX September natural gas futures settled 1cts higher at $2.210 MMBtu. Alton Wallace, 1.832.646.9229, alton.wallace@dtn.com, www.dtn.com. (c) 2019. All rights reserved.