Summary
Major propane benchmarks weakened over the fortnight ending 11 Mar in line with a weaker crude oil futures complex. The Apr’25 C3 LST contract fell from around 84c/gal on the morning of 27 Feb to 80.25c/gal on 6 Mar, where it met support and ticked up to 81.375c/gal at the time of writing on 12 Mar. The Apr/May’25 C3 LST spread weakened from 4.50c/gal on 28 Feb to 2.375c/gal on 10 Mar but rose to 2.625c/gal at the time of writing. Trade houses have sold over 2mb of the C3 LST contract to Onyx this fortnight while buying 455kb of the Apr/May’25 spread against Onyx following 3 Mar.
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