Gulf Coast Spot NGLs sharply Lower Early Monday Afternoon
CANYON LAKE, Texas (DTN) --- Gulf Coast spot NGLs prices were sharply lower
early-afternoon Monday with Enterprise propane down 2.8% from the trade session
prior and both normal butane and natural gasoline posting even larger declines.
LST spot propane traded near midday at 55cts gallon, down 1.25cts or 2.2%
after the Thanksgiving Holiday, while Enterprise spot propane was done 1.625cts
lower at 55.625cts gallon.
Despite the price decline, Enterprise spot propane was valued midday at a
near seven-month high 41.8% of spot-month New York Mercantile Exchange WTI
At last look, NYMEX January WTI crude oil futures were up 74cts at $55.91
bbl and spot-month ICE Brent futures were 64cts higher at $61.13 bbl with the
Brent-WTI spread at a 3-1/2 week low $5.22 bbl.
Nearby NYMEX RBOB futures were down 0.79cts in early-afternoon trade at
In Canada, Sarnia spot propane was heard at a more than 21-month high 111cts
gallon, up 3cts.
In other Gulf Coast NGLs spot markets, Enterprise normal butane changed
hands near midday at 70.5cts gallon, down 3.5cts or 4.7% from the trade session
prior. Enterprise isobutane slid 2cts at 83.5cts gallon.
Enterprise natural gasoline dropped 7.5cts or 5.7% at 123.5 as it traded at
a 4cts discount to LST natural gasoline.
In related markets, NYMEX January natural gas futures were up 4.7cts in
early afternoon trade at $2.328 MMBtu.
Alton Wallace, 1.832.646.9229, , http://www.dtn.com/
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