Winter storm is spurring higher demand for gas, but NGL prices are mostly static.
Ethane is much stronger than it was 12 months ago and margins widen across the board.
NGL margins benefit from exports and weakened gas prices, but global economic concerns are mounting.
An expected weakening of the polar vortex in late December could result in a chilly January.
The ethane spread between Conway and Mont Belvieu has narrowed dramatically since the summer.
Higher gas prices, narrower NGL margins and an ethane market on track for a spike decorate the outlook.
Soaring natural gas prices outpace increases in NGL; crude’s decline is linked to trader worries about an economic slowdown.
Natural gas prices ramp up as NGL prices slide.
High inventories and rising natural gas prices are pressuring NGL prices and margins.
Correction was needed and crude may have landed in a place of relative stability.
So far, so good may not be good enough if the U.S.-China trade war stays on this track in 2019.
Prices are careening wildly and they won’t stabilize anytime soon, say analysts.
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