The EIA’s were released today and showed a 1.2MM draw for propane, which has caused the markets to bump this morning:
We have a weekly guessing game in the office and I threw out -1.3, so the ‘title belt’ stays in this station for another week. Crude oil showed a build of 4.1MM, and that market is off just under a dollar. To those of you receiving this who pull off the Dixie pipeline, the loads deals pricing I sent to you last night and/or contacted you on this morning is no longer available, as I feared would be the case. I will already throw this out and predict a -1.5 draw for next week as demand has been very strong in the Midwest and we are also seeing terminal activity in the Southeast.
- Propane shortage in Midwest could affect harvests (kansascity.com)