The NGL-powered DeLorean throttled up again in the past week, driving the hypothetical barrel up and over $40 to its highest point since July 2014. Along for the ride, Mont Belvieu, Texas, ethane went back further in history, cracking 50 cents per gallon (gal) for the first time since March 2012.
Inventory? We don’t need inventory for where we’re going.
OK, that’s not true. Supply will come in handy for meeting increased demand but tighter storage and rising exports are pushing NGL prices up almost across the board at Mont Belvieu as well as at the Conway, Kan., hub.