LPGs Mostly DN on Crude Futures Drop on Wavering Economy
HOUSTON (DTN) --- Spot liquefied petroleum gas prices were mostly lower
after New York Mercantile crude futures values declined on bearish trader
sentiment following weak economic data released this week and low petroleum
product demand.
The market continued to react to a report showing weak housing starts and
another that showed 14 percent of homeowners are either in foreclosure or late
on their mortgage payments, both signs that the economy is not recovering as
quickly as some analysts expected.
December crude futures declined 58cts to $76.88 bbl. RBOB futures for
December delivery firmed up 0.82cts at $1.9777 gal. December heating oil
decreased 1.19cts to $1.9845. December NYMEX natural gas increased 4.9cts to
$4.391 MMBtu.
In physical LPG trade, Mt. Belvieu LDH propane dropped 0.5cts to 107.5cts
gal while non-LDH propane declined 0.5cts to 107.25cts gal and Conway propane
edged down 0.25cts to 107.75cts gal.
Trade sources pegged Mt. Belvieu LDH normal butane at 142.75cts gal, down
0.25cts, while non-LDH normal butane declined 0.25cts to 143.25cts gal and
Conway normal butane shed 0.5cts at 143.5cts gal.
Enterprise iso-butane remained flat at 152.5cts gal.
LDH natural gasoline dropped 1cts to 164cts gal and Enterprise natural
gasoline declined 1.5cts to 165cts gal while Conway natural gasoline shed
0.5cts at 178cts gal.
Ethane added 1cts t 71.75cts gal.
T.L. Hamilton, 1.832.767.2622, tl.hamilton@dtn.com, www.telventdtn.com. (c)
2009 Telvent DTN. All rights reserved.
