Propane Buzz for March 3rd, 2022

3/3/2022: WTI crude oil closed at $110.60/bbl yesterday, its highest daily close since May of 2011. The May contract settled at $107.06. The front month contract traded over $116 around 2:30AM eastern time this morning, but is back below $110 as of this writing.

War in Ukraine Increases Energy Market Chaos

2/28/22: Jon Miller and Chris Cox of Flashpoint Energy Partners discuss the chaos and volatility that dominate the propane and world headlines right now. Russia’s invasion of Ukraine adds a chaos card to an already tricky deck the energy world was dealing with. Click on this link to watch, or click on the video image to the right to do the same.

EIA: Propane Inventories at Eight-Year Lows

2/24/22: Propane inventories now stand at 38M/bbls, their lowest level for this time of year in the Shale Production Era. This, on the heels of a full-scale Russian invasion of Ukraine and crude oil topping $100/bbl

The West Sanctions Russia

2/23/22: The United States and much of the Western World powers have established a first round of sanctions against Russia. Propane prices jumped more than a dime yesterday, too.