The price of crude has rebounded a little since, but the potential for it to go lower is still present due to demand destruction from COVID-19 and producers not cooperating to limit production.
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October has turned out to be quite frightening for crude and propane bulls. The upward momentum that had been prevalent since April came to a screaming halt.
Read More A report from the U.S. Energy Information Administration (EIA) examines U.S. propane’s relationship with world propane prices and crude oil prices.
Read More Any forecast on propane prices begins with trying to determine where crude will be priced.
Read More Recently, propane prices have not gone beyond 78 to 80 percent of West Texas Intermediate (WTI) crude’s price.
Read More WTI crude is an important metric because it gives propane retailers a way to evaluate the value of the product they sell. The comparison provides needed guidance when managing the price risks associated with propane supply.
Read More The Organization of the Petroleum Exporting Countries projects demand for its crude will average 32.83 million barrels per day in 2018.
Read More The market has determined that production controls by producers cannot, by themselves, balance supply and demand enough to bring down global crude inventory.
Read More Since Feb. 23, West Texas Intermediate crude has been in a downward price trend.
Read More Last week’s big news was the Organization of the Petroleum Exporting Countries’ decision to curb its production in an effort to support sagging crude prices.
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