WTI crude oil prices are up almost 10% these past two weeks to a spot price of $84.83, marking the highest prices for crude oil since 2014. This is on top of an increase of 8% in the last two weeks of December.
From the supply side there remains significant tensions in the Middle East causing traders to own the commodity and nations to stockpile reserves…
We’ve been saying it for months, the very cold stretches the country experiences this winter will lead to price jumps in natural gas. Well, this artic blast that hit much of the east coast this past week has contributed to natural gas prices jumping 14% to $4.30/mmbtu in Henry Hub, LA.
Physical PGP prices in Enterprise’s system in Mont Belvieu, TX have increased 12.5% from a spot price of 48cpp to a spot price of 54cpp.
BlueClover had been citing the strong demand for PGP in the 46-48cpp as reason for potential price increases. We are still estimating an average spot physical price of…