Quick Market Price Recap
- WTI Crude Prices are unchanged from two weeks ago around $101/barrel
- Natural Gas prices are up 24% the past two weeks to a spot price of $6.70/MMBtu in Henry Hub, LA.
- Global Feedstocks were mixed with naphtha (Japan) and propane (Texas based) lower by about 5% the past two weeks to current prices of $925/mt and 132 cents/gal. On the heals of Natural Gas, ethane prices are up 14% to 50 cents/gal.
- Ethylene prices in Mont Belvieu are up 18% as a result of the move higher in natural gas and ethane.
- PGP Prices are basically unchanged over the past two weeks at about 65cpp. Physical PGP prices rallied to a two-week high of 73cpp on April 4 but then retreated back into the mid 60s.
- The April month to date calendar average for PGP is approx. 68 cents per pound according to the PetroChem Wire. At the end of March, BlueClover was estimating an April physical PGP average of 70cpp.
- We are revising our April physical PGP average to 68cpp and our estimating April contract PGP to be flat at 72cpp from its March level. (BlueClover’s previous estimate was up 1 to 2cpp for contract PGP in April)