High prices weigh on arbs, freights

October 2021

LPG in World Markets

US LPG exports declined in September from the previous month amid narrow arbitrage economics. Low inventories caused average Mont Belvieu propane prices to jump another 15% in September from August. Swap prices suggest the high price environment is expected to stick around through February 2022 as winter demand and slow growth in US production put additional pressure on the market. Following the winter months, swaps are trending lower.

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