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Spot NGLs Finish Shallowly Mixed, Oil Futures Settle Highe
5/22 4:34 PM
Spot NGLs Finish Shallowly Mixed, Oil Futures Settle Higher HOUSTON (DTN) -- U.S. spot NGLs prices finished shallowly mixed at the major supply hubs Monday while New York Mercantile Exchange oil futures posted modest gains. At settlement, NYMEX June West Texas Intermediate crude oil futures expired up 40cts at $50.73 bbl, a more than four-week high on the spot continuation chart, and the July contract advanced 46cts to finish at $51.13 bbl. Nearby NYMEX RBOB futures settled up 1.03cts at $1.6626 gallon, also a more than four-week high on the spot continuation chart. Spot NGLs traded thinly Monday, brokers said. "With the holiday weekend approaching and the end of the month following that, a lot of people have about closed their trading books," said a propane broker. "Unless something surprising comes out of Thursday's OPEC meeting or Wednesday's inventory numbers, this week is probably going to be really slow," he said. At Mont Belvieu, LST spot propane traded Monday afternoon at 66.75cts gallon, down 0.125cts, and Enterprise spot propane was done flat at 67.0cts gallon. Conway spot propane last traded Monday morning at 63.625cts gallon, down 0.25cts. In other U.S. NGLs spot markets, Mt. Belvieu non-LST normal butane was seen late session at 79.25cts gallon, down 0.125cts, and Conway normal butane added 0.5cts at 74.0cts gallon, a more than four-week high. Mt. Belvieu non-LST isobutane traded at 77.5cts gallon, up 0.5cts, while Conway isobutane advanced 1.375cts at 84.625cts gallon, a more than four-week high. Mt. Belvieu non-LST natural gasoline and Conway natural gasoline both finished at more than four-week highs Monday, with the former up 0.375cts at 112.0cts gallon and the latter adding 1.0cts at 112.25cts gallon. Conway e/p mix was valued flat at 20.25cts gallon while Mt. Belvieu e/p mix was assessed 0.125cts higher at 25.5cts gallon. Gulf Coast purity ethane traded at 25.875cts gallon, up 0.125cts. In related markets, NYMEX June natural gas futures advanced 7.4cts Monday to settle at $3.330 MMBtu. Alton Wallace, 1.832.646.9229, Alton.Wallace@dtn.com, www.schneider-electric.com (c) 2017 Schneider Electric. All rights reserved.