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LPG REPORT

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Settlement Week

We saw 980kb and 450kb of net buying in the Sep'26 and Oct'26 LST/FEI arb this week, respectively, although players remain out of the money.
17 page report
26 August 2026

All About That Arb

Bearish LST/FEI arb flow supports FEI/MOPJ despite crude strength; LST spreads recover from oversold levels
17 page report
12 August 2026

Correcting the Correction…?

FEI remains supported by geopolitics and freight, while LST weakens on high freight, soft EIA data and persistent contango.
17 page report
29 July 2026

Wartime Regime

Internationals strengthen on renewed US-Iran hostilities; BLPG freight rates surge; Aug'26 CP rises by $100/mt
17 page report
15 July 2026

East Side Story

Trade houses remain on the buy side of FEI spreads further down the 2026 curve....
17 page report
1 July 2026

The East goes South

NGL markets fall worldwide: US stocks surge, Asia spreads compress, freight weakens
17 page report
17 June 2026

Feast from the East

Asian propane strengthened on tighter spreads and recovering PDH rates, while volatile US exports drove mixed signals.
17 page report
3 June 2026

Pana-mania

This fortnight's support in Asian propane has come despite fears of demand destruction in the petrochemical industry amid high freight....
17 page report
20 May 2026

Propping Up Propane

US LPG has seen more support over the past fortnight, amid expectations of increased export demand despite high stocks.....
17 page report
6 May 2026

Bull-Bear Switcheroo

Sentiment reverses in US and Asia propane; de-escalation and demand destruction weaken FEI; strong buying in LST/FEI arb
17 page report
22 April 2026

Mind the Gap

The LPG complex gapped down on 08 Apr, alongside the d/d drop in crude futures amid de-escalatory comments from the US and Iran.....
17 page report
8 April 2026

Liquidity Desert

Low volumes, huge reversal in LST/FEI and Freight Keeps Rallying
17 page report
25 March 2026

Hung Up on Hormuz

Propane surges on Hormuz disruption and Aramco outages; East strengthened vs West as freight stays high and Asia demand tightens.
17 page report
11 March 2026