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US Spot NGLs End mostly Lower while Oil Futures Advance
10/10 4:47 PM
US Spot NGLs End mostly Lower while Oil Futures Advance CANYON LAKE, Texas (DTN) -- Spot NGLs prices edged mostly lower in light trade at the major U.S. supply hubs Thursday while New York Mercantile Exchange oil futures settled with solid gains. NYMEX November West Texas Intermediate crude oil futures settled up 96cts at $53.55 bbl, a 1-1/2 week high, and nearby RBOB futures rose 3.62cts to a $1.6233 gallon settlement, a near two-week high. Intercontinental Exchange December Brent futures settled up 78cts at $59.10 bbl as the Brent-WTI spread narrowed to $5.55 bbl. Spot propane traded thinly at the LST and Enterprise supply hubs Thursday with a combined 100,000 bbl transacted while at the Conway hub deal volume was at 50,000 bbl. At Mont Belvieu, LST spot propane finished 0.75cts lower at 47.75cts gallon and Enterprise spot propane traded down 0.125cts at 48.375cts gallon. Conway spot propane slid 0.875cts Thursday at 43.5cts gallon while Hattiesburg spot propane did not trade on ICE for the second consecutive day. In other NGLs spot markets, Mt. Belvieu non-LST normal butane and Conway normal butane both traded 0.25cts lower, with the former at 62.25cts gallon and the latter at 54cts gallon. Non-LST isobutane was seen flat at 80.25cts gallon while Conway isobutane slid 1.625cts at 65.375cts gallon. Mt. Belvieu non-LST natural gasoline was done at 112cts gallon, up 2.75cts, and Conway natural gasoline was valued 0.25cts lower at 119.75cts gallon. Mt. Belvieu non-LST e/p mix was assessed at 17cts gallon, down 0.375cts, and Conway e/p mix was seen 2.5cts lower at 10cts gallon. Gulf Coast purity ethane traded 0.375cts lower at 19.125cts gallon. In related markets, nearby NYMEX natural gas futures settled down 1.8cts at $2.218 MMBtu, a more than six-week low on the spot continuation chart. Alton Wallace, 1.832.646.9229, , (c) 2019 DTN. All rights reserved.