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.
As 2014 drew to a close, NGL prices experienced positives for the first time in more than a month.
It’s beginning to sound like a song stuck on repeat, but natural gas and NGL prices continued to tumble the week of Dec. 10 as they followed the downward trajectory of crude oil prices.
As hydrocarbon prices crash, NGL prices are trying to find their floor value.
Crude, NGL and gas prices are exected to experience headwinds for the foreseeable future.
Colder temperatures and snowfall drove heating demand and improved gas prices, but NGL prices dropped through mid-November.
Crude oil prices continue to fall as geopolitical issues impact both the West Texas Intermediate (WTI) and Brent markets. The WTI price fell below $75 per barrel (/bbl), nearing a level that could halt some U.S. unconventional production.
Saudi Arabia’s mandate to continue crude production even as prices fall below $80 per barrel could have long-term impacts on U.S. markets.
NGL prices continued to suffer in the final week of October, while West Texas Intermediate crude prices held at about $80 per barrel.