The global LPG divide: Why Europe and Asia are moving in opposite directions
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The global LPG divide: Why Europe and Asia are moving in opposite directions
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European and Asian LPG fundamentals have sharply diverged following the disruption to flows through the Strait of Hormuz in late February and early March. The supply shock sent Asian propane prices sharply higher, tightened availability, and disrupted petrochemical demand. Meanwhile, the European market, especially the Amsterdam-Rotterdam-Antwerp hub, has remained comparatively well supplied and under pressure.
To examine the latest trends in this segment, S&P Global Energy's Gary Clark, the associate director of the EMEA clean refined price reporting team, is joined by Senior Price Reporter Barbara Fernandez-Pita to help explain how record US exports, surging freight costs, a closed arbitrage window, and the end of the winter heating season have helped insulate European propane from the worst of the global squeeze.