Propane values in TET are at their highest levels since 2014 and were it not for the freakish cold outbreak in February 2021, Conway would be, too
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Winter of 2021-2022 Clues
Yesterday, I reached out to Michael Clark of BAMWx.com, the Meteorological partners of The Propane Buzz, and asked if he had any early thoughts on climate drivers relative to the upcoming winter. As coincidence would have it, he and his team had been starting to work on that earlier in the week, so Michael had some data in hand to share with us. PLEASE NOTE, and I cannot stress this enough, these are PRELIMINARY thoughts.
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Crude, Propane Values Keep Rising
Spot propane prices are three to four cents stronger this morning than where they ended last week. Crude oil values closed at $66.32 last week and are trading near $69/bbl in early morning action today and propane is following.
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Line 5 Deadline Looms, Industry Should take Note
Not a great deal of new in the headlines this morning, but there is a looming date that propane people should be aware of and monitor. That date is May 12th, the date that Michigan’s governor has given (demanded?) Enbridge …
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NEW Propane Buzzcast: Talking Price Projections & More
It’s been an interesting month of April already on the propane price front. We’ve seen a twenty cent drop only to see prices claw back. We have been telling you for months that volatility is the new norm, and this …
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EIA: Small Build, Do Numbers Tell Us Something?
Propane inventories saw a 500,000/bbl build this week, compared to a 600,000/bbl draw one year ago this week. Inventory levels remain in the lower portion of the seven year historical range, as seen in the graph below. Here is the …
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Propane Buzz for April 26th, 2021
n his weekly look at petroleum related activity in the hedge fund space, John Kemp writes that fund positions remained rangebound. From the linked item: “Cautious production increases by OPEC+ and a strong business cycle upturn have encouraged bullish sentiment about downward …
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Looking Back to Help Us See Forward
Yesterday’s EIA report showed propane inventories to be at 40.5M/bbls nationally. Here is where we were for the same reporting week in each of the past seven years: 2021: 40.5 2020: 57.4 2019: 57.8 2018: 35.7 2017: 39.6 2016: 71.2 …
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EIA: Second Highest Weekly Export Total Leads to Draw
Propane inventories saw a 100,000/bbl draw this week, compared to a 600,000/bbl build one year ago this week. Inventory levels remain in the lower portion of the seven year historical range, as seen in the graph below. Exports were very …
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EIA: 5.2M/bbl Draw, Record Drawdown Pace Continues
Propane inventories drew 5.2M/bbls for the week ending February 19th, 2021 and now stand at 43.5M/bbls. This puts the current inventory level at a nearly identical pace to that of the 2017-2018 season, which saw national inventories at 43.3M/bbls for the same week of the year, which is the lowest inventory level for this time of year in at least the past seven years, with next week's EIA's likely to show another considerable drawdown.
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