Low Crude and High Inventories

The propane swap market saw initial support this fortnight, although these gains were ultimately shed amid weaker crude. The Jan’26 Mont Belvieu TET propane swap contract (C3 LST) initially rallied from 70.25c/gal on 03 Dec to a high of 72.75c/gal on 08 Dec, but dropped to 65.50c/gal at the time of writing on 17 Dec, also weakening relative to crude w/w despite the crude weakness.