29 July 2013 22:12 [Source: ICIS news]
HOUSTON (ICIS)--US spot prices for natural gas liquids (NGL) in the first half of the year fell sharply from levels in 2012, the US Energy Information Administration (EIA) said on Monday.
Ethane spot prices were about 27 cents/gal in the first six months of 2013, the EIA said. ICIS data shows that the average spot for ethane in the same period was 26.65 cents/gal.
Ethane spot prices are about 45% below prices from the same period last year.
Ample supply and steady demand from petrochemical plants have kept prices in the mid-20s cents/gal.
Propane spot prices traded at an average of 89 cents/gal, the EIA said. ICIS data shows 89.06 cents/gal.
Propane is down from $1.12/gal in the first half of 2012.
The EIA said propane production was up in the first part of the year, mitigating the possibility of price increases from propane exports.
Ethane spot prices were assessed at 25.13 cents/gal on Monday, while propane spot prices were at 93.25 cents/gal.
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