LPG REPORT
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Latest
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
All About That Arb
Bearish LST/FEI arb flow supports FEI/MOPJ despite crude strength; LST spreads recover from oversold levels
17 page report
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
Wartime Regime
Internationals strengthen on renewed US-Iran hostilities; BLPG freight rates surge; Aug'26 CP rises by $100/mt
17 page report
East Side Story
Trade houses remain on the buy side of FEI spreads further down the 2026 curve....
17 page report
The East goes South
NGL markets fall worldwide: US stocks surge, Asia spreads compress, freight weakens
17 page report
Feast from the East
Asian propane strengthened on tighter spreads and recovering PDH rates, while volatile US exports drove mixed signals.
17 page report
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
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
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
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
Liquidity Desert
Low volumes, huge reversal in LST/FEI and Freight Keeps Rallying
17 page report
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