90 days ago • Posted by William Ramstein

Propane futures price surges

Propane prices have climbed more than 70% since late November, thanks to an explosion in patio heating and an uptick in exports to Asia. Now, an arctic gust expected to deliver some of the coldest temperatures in decades to the Great Plains and upper Midwest could push prices for the rural heating fuel even higher. Futures prices at propane-trading hubs in Mont Belvieu, Texas, and Conway, Kan., have risen to 86 cents a gallon and 95 cents, respectively, up from about 50 cents in late November. Spot prices at both hubs have been similar to those of futures. Prices for propane, a byproduct of natural-gas drilling and crude-oil refining, are up more than fourfold from the bottom in March, when lockdowns sent energy prices crashing and the market hadn’t yet contemplated cold-weather outdoor dining. - WSJ