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.
After five weeks of trading at peak levels, propane prices took a sharp downturn even as colder temperatures arrived in much of the country.
Frigid temperatures plagued the Northeast and Midwest at the start of 2014, resulting in soaring propane and natural gas prices.
The break from winter temperatures for the Midwest and Northeast the week of February 12 to February 18 saw a retreat for most natural gas liquids prices as heating demand collapsed.
The week of February 10 saw propane prices continue to retreat along with winter temperatures.
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.
For the second-straight week, propane prices soared, thanks to high heating demand
A second cold blast in January saw propane prices skyrocket as heating demand was well above normal, which caused a large increase in propane prices, especially at Conway.
Natural gas liquids (NGL) prices were stable the week of January 8 while natural gas prices retreated at a quicker pace following the return of normal winter temperatures after a sustained cold front to start 2014.