US natural gasoline prices rise on crude

15 August 2011 23:21  [Source: ICIS news]

HOUSTON (ICIS)--Natural gasoline spot prices rose by 2% following the increase in crude prices rather than tightened supply from a pipeline leak of natural gasoline, a spot market trader said on Monday.

Natural gasoline spot trades reached a high of $2.29/gal on Monday, compared with a high of $2.245/gal on Friday. Comparably, propane and normal butane rose between 0.6-0.7%, and isobutane and ethane increased just over 1% from Friday.

A spot trader said natural gasoline tracks crude oil more closely, which is why natural gasoline prices moved higher at a pace faster than other natural gas liquids.

Crude oil settled 2.9% higher at 87.88/bbl, compared with Friday.

Enterprise Products discovered a leak of natural gasoline into the Missouri River on Saturday morning from its Conway North natural gas liquids pipeline.

The leak was in a 10-mile section of the 33,600 bbl/day pipeline between Decatur, Nebraska, and Onawa, Iowa. The pipeline was immediately shut down, and the 10-mile section was isolated. Spokesman Rick Rainey said up to 140,000 gal of natural gasoline leaked into the river.

Rainey would not speculate on when the pipeline would be restarted.

By: Sheena Martin
+1 713 525 2653

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