The streak had to end at some point. During the week of April 2, ethane margins turned negative at both Conway and Mont Belvieu. Margins had been running at positive, albeit very slim, levels for the previous month.
Ethane rejection remains the norm throughout the country, but there are signs of hope for traders as margins have continued to remain theoretically positive throughout the end of the winter and early spring.
Natural gas liquids frac spread margins improved across the board the week of March 10 at both Mont Belvieu and Conway as heating demand subsided, causing gas prices to crash. NGL prices largely held firm at both hubs.
Despite cold temperatures and heavy snow in parts of the country, NGL prices largely fell at both Mont Belvieu and Conway the first week of March as the propane supply shortage from earlier this year has since caught up with demand.
The American Petroleum Institute welcomed authorization by the Department of Energy of liquefied natural gas (LNG) exports from Cameron Parish, Louisiana and urged the agency to quickly process over 20 remaining applications.
The frigid temperatures that closed out January cleared out in different parts of the country, but large amounts of snow throughout the Northeast the first week of February were a sure sign that winter isn’t over yet.