Heavy NGL Prices Follow Crude Prices Downward
Frank Nieto, Editor, Midstream Monitor, MidstreamBusiness.com
March 1, 2013
Light natural gas liquid (NGL) prices showed improvements the week of February 20, but the overall NGL barrel (bbl.) price decreased as crude prices have turned bearish the last few weeks.
West Texas Intermediate crude prices traded at about $92 per bbl. during the week as domestic demand continues to lessen. According to the Energy Information Administration (EIA), storage levels hit their highest level for a late February period since the agency began recording this data in 31 years ago. Brent crude prices also fell to about $111/bbl. for the ...