The three-week rally in prices has lifted the hypothetical NGL barrel by 12.6% at Mont Belvieu, Texas, and 14.1% at Conway, Kan., returning them to the levels of late February.
The barrels were on a similar upswing a year ago, digging themselves out of much deeper holes in the mid-teens. Last week’s prices at both hubs were 37% above the price at this time last year.
Ethane and C5+ held fairly steady at both hubs, but propane and the butanes registered strong gains. All components of the barrel saw wider margins at both hubs.