Ethane prices had been expected to begin their long-awaited improvement this summer, but that progress appears to be getting stunted once again.
Ethane prices had the largest decrease the first full week of July as it remains closely related to gas prices, which tumbled this week. Ethane was also hurt by the continued outage of several crackers undergoing expansions or maintenance.
Stable natural gas prices is resulting in greater A&D activity.
NGL prices were largely stagnant, with a slight trend down at the end of June as they followed losses for natural gas price and crude. Overall, NGL prices largely remained flat compared to the levels posted in the second quarter.
As July draws to a close, ethane prices remain in free fall with major headwinds working against them, primarily in the form of plant outages that have severely reduced domestic cracking capacity.
The American Petroleum Institute (API) rebutted the U.S. Department of Transportation’s claim that crude oil from the Bakken Shale is especially volatile compared to other crude oils.
The Obama administration proposed phasing out thousands of older tank cars within two years and lowering speed limits as part of a set of new rules intended to reduce the risks of hauling crude oil by rail.
Delta Air Lines subsidiary Monroe Energy LLC entered into a five-year agreement with Bridger LLC to supply 65,000 barrels per day of domestic crude oil to its Trainer, Pa., refinery.
Key North American Hub Prices: July 25, 2014
ONEOK Partners LP announced plans to invest about $365 million to $470 million between 2014 and fourth-quarter 2016 to build a natural gas processing plant and related infrastructure to gather and process gas from the SCOOP.
Dorian LPG Ltd., owner and manager of modern very large gas carriers (VLGCs), entered into a memorandum of understanding with HNA Logistics Group Co. Ltd. to explore opportunities in the LPG market.
Wells Fargo Securities reports that the MLP sector outpaced the S&P 500 for the fourth straight month.
According to the latest report from research and consulting firm GlobalData, Global polypropylene capacity increased at a compound annual growth rate (CAGR) of 5.2% from 2003 to reach 65 million tons per year (mtpy) in 2013.
Houston-based Westlake Chemical Partners LP, a limited partnership formed to operate, acquire and develop ethylene production facilities and related assets, launched its IPO of 11,250,000 common units representing limited partner interests.
Koch Industries Inc.’s subsidiary Flint Hills Resources LLC significantly expanded its chemicals business with the completion of its purchase of PetroLogistics LP and its general partner, PetroLogistics GP LLC.
According to its latest report, research and consulting firm GlobalData expects global polyethylene demand to rise by about 3.7% per year between 2013 and 2018.