Propane
Propane spot prices at the Mont Belvieu distribution hub in Texas rallied to around $0.8 per gallon as prospects of higher demand in deepening winter offset concerns about an oversupplied market. At the same time, US propane exports are likely to remain strong due to robust global demand amid a shift in energy supplies following Russia’s invasion of Ukraine. Propane futures are still down roughly 50% from their March peak of $1.6 as warmer-than-expected temperatures, particularly in the US and Europe, have curbed the need for extra heating and eased some fears of fuel shortages.
Historically, Propane reached an all time high of 1.67 in February of 2014. Propane - data, forecasts, historical chart - was last updated on January of 2023.
Propane is expected to trade at 0.75 USD/GAL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.82 in 12 months time.
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