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Weekly LPG Mont Belvieu And Nigerian LPG Price Review February 21st 2025
Weekly LPG Mont Belvieu And Nigerian LPG Price Review February 21st 2025
Weekly Mont Belvieu Propane-Butane Price Overview: February 21st, 2025
Here’s a summary of this week’s LPG price trends, with daily average prices for propane and butane:
18/02/2024: Propane $472.5 / Butane $486.4
19/02/2024: Propane $470.5 / Butane $480.3
20/02/2025: Propane $471.3 / Butane $479.6
21/02/2025: Propane $469.4 / Butane $471.7
LPG Price Analysis
Last week saw a continued decline in LPG prices, with propane averaging 470.9 USD/MT and butane averaging 479.5 USD/MT. This marks a drop from the previous week’s averages of 485.3 USD/MT for propane and 492.0 USD/MT for butane.
Propane prices steadily declined, reflecting weaker demand and sufficient supply levels. Butane prices also dropped, falling below the $480 mark for the first time in recent weeks, signaling softer market conditions. Reduced winter heating demand and stable global supply have contributed to this downward trend.
Crude Oil Price Analysis
WTI closed at $71.23, down from $72.00 the previous week, while Brent closed at $75.31, slightly lower than $75.77 the prior week.
Oil markets remain volatile, but the decline was relatively modest compared to earlier trends. Key factors affecting crude oil prices:
Geopolitical Developments: The market is watching for any updates on the Russia-Ukraine situation, as speculation about negotiations has tempered some supply fears. On the OPEC+ Positioning, Uncertainty remains over potential output adjustments, which could influence future price movements. Also, slower-than-expected economic growth projections, particularly in China, have limited bullish momentum in oil prices.
Outlook
LPG prices may continue their downward trend unless new supply constraints or demand shifts emerge, while Crude oil prices could see increased volatility, depending on geopolitical factors and OPEC+ policy decisions.
Nigeria LPG depot prices continue to find new lower levels.
LPG depots in Apapa sold lower compared to last week, with some depots selling for as low as 17.2 Million per 20MT in Apapa. LPG prices at Dangote Refinery, remain steady; selling for between 16.5 to 17 million naira per 20MT. Kwale Hydrocarbon in Kwale, sold lower, dropping to 17.9 from 18.5 Million, during the week. The Naira gained ground against the USD, finishing at about 1505/USD at the end of the week, but it still doesn't make import viable, relative to the prevailing local LPG prices.
LPG Retail Prices remain steady.
Retail LPG prices remained as low as N15,000/12.5kg in Lekki and other parts nationwide, as LPG depot prices continue to crash.
Visit the LPG forum to share local Retail prices and participate in the discussion.
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