Propane inventories drew down 2.8M/bbls for the week ending January 12th, 2024, and for the first time in a long time, the year over year inventory comparison is now in deficit.
Legitimate cold is on the way…and most of the United States is going to feel it.
NEW Propane Buzzcast, and an update on the significant cold outbreak that is barreling down on the western half of the USA
Global oil markets are facing a supply-driven shift as increased crude production from non-OPEC+ nations, notably the United States, threatens to outpace slower-paced global demand growth. Despite OPEC+’s pledge for deeper output cuts, traders remain skeptical about their effectiveness in eliminating the surplus fully. This has led to the first annual decline in crude oil prices since 2020, defying expectations of a post-pandemic recovery.
Hey, the Polar Vortex may be making a visit near you….soon! What’s going on with the January forecast? We talk about that in today’s Propane Buzz, along with a look at the ride we took with propane prices in December that saw Conway close the month higher than TET for one of the few times in 2023.
The price of propane has been dropping steadily for the past 14 months…can we glean some direction by looking back through history? We take a crack at that in today’s Propane Buzz
6/2/22: Jon Miller and Chris Cox are back to discuss the latest trends, concerns and more with this installment of The Propane Buzzcast.
5/18/22: Jon Miller and Chris Cox are back to discuss the latest happenings in the world of propane. In this episode, the duo discusses the current inventory situation, citing some other voices who are not as concerned relative to levels, in addition to an early yet interesting commentary on the potential for grain drying demand.
5/2/22: April was colder than normal for most and May looks to be getting off to a similar start. That, and a look at just how high April propane prices were.
4/28/22: Crude oil and distillate inventories are lagging well behind historical averages, which can impact propane values.