It is becoming clear that 2015 will be a “lost year” for crude oil, natural gas and NGL prices, but the hope is that it will be a minor blip.
West Texas Intermediate crude prices took another downturn the week of March 11 as storage at the Cushing, Okla., hub is quickly filling up.
The arrival of spring temperatures is causing natural gas and NGL prices to fall as heating and blending demand decrease and uncertainty remains over crude prices.
West Texas Intermediate crude oil prices experienced another uptick the first week of March.
Ethane markets are improving, but butane is still most preferred feedstock.
The recent Siberian blast sent natural gas prices surging upward at Transco and Algonquin Citygate hubs, but overall prices were relatively flat.
Though ethane margins turned negative, the theoretical NGL barrel price reached its highest level of the year.
For the first time in 2015, C5+ prices pushed past the $1/gal threshold.
NGL prices fell almost across the board last week, with propane prices standing out as the only bright spot.
For the first time in more than a year ethane can claim a positive margin at both Mont Belvieu and Conway.
While not a cause for celebration, NGL, natural gas and crude oil prices holding firm the week of Jan. 7 provided some needed relief to the marketplace as producers are hopeful that the pricing floor was finally met.
Jack Frost is playing his part this winter, but so far gas and liquids prices have yet to take off like last year.