The EIA stated in a recent update that the Midwest region (PADD II) saw record propane consumption for the month of November.
The winter of 2013-2014 is off to a strong start before it technically begins and it’s doing so with inventory levels at scary-low levels. See this graph and click on it to enlarge:
The gray swath is the range of inventory levels between 2003 and 20012, or the laste 10 years. The maroon line shows 2013 levels month by month…up through June, 2013 was tracking right in the heart of the 10-year range and prices in Conway were down into the upper $.70’s for spot loads. Take a look at the line through the first week of December; the number is lower than it has been at any time the past decade and not just by a little.
If this weather remains with us the next 30 days or so, we are primed to see an historic explosion of prices in Conway.
So, say it with me: DON’T BE SHORT