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On Tuesday, strong demand for butane exports drove prices at Montebellevue, Texas, NGL storage and fractionation centers to a four-year high
, according to market sources.
In July, non-LST butane, reflecting prices at Montebellevue corporate facilities, rose 9.
5 cents to $1.
40/gallon
.
Butane value peaked at $1.
41/gallon on February 19, 2014, when crude oil futures were trading at $103.
31/barrel, bringing butane prices to approximately 57%
of crude oil.
By comparison, the New York Mercantile Exchange August WTI Tuesday settled at $685.
2/b, putting the relative value of butane at 86%
of crude oil futures.
In the first three weeks of July, butane averaged 69 percent of crude oil, but it soared to 81 percent on Monday and strengthened Tuesday
.
Most market sources contacted Tuesday noted that export prices for butane have increased by more than 21 cents
since Friday.
On Tuesday, strong demand for butane exports drove prices at Montebellevue, Texas, NGL storage and fractionation centers to a four-year high
, according to market sources.
In July, non-LST butane, reflecting prices at Montebellevue corporate facilities, rose 9.
5 cents to $1.
40/gallon
.
Butane value peaked at $1.
41/gallon on February 19, 2014, when crude oil futures were trading at $103.
31/barrel, bringing butane prices to approximately 57%
of crude oil.
By comparison, the New York Mercantile Exchange August WTI Tuesday settled at $685.
2/b, putting the relative value of butane at 86%
of crude oil futures.
In the first three weeks of July, butane averaged 69 percent of crude oil, but it soared to 81 percent on Monday and strengthened Tuesday
.
Most market sources contacted Tuesday noted that export prices for butane have increased by more than 21 cents
since Friday.
