CP in November is USD 850.0, which is increased by 52.5 USD from October. C3 : USD 870.0/ C4 : USD 830.0

Price increased again this month. Crude oil prices increased from the forecast of globally tightened supply and demand, mainly due to expectations for an economic recovery from the Corona crisis, risk orientation driven by a rise in U.S. and European stock prices, and the view that OPEC plus was unlikely to increase production because of concerns about sluggish growth in crude oil demand. The decline in U.S. crude oil inventories against market expectations, based on the EIA’s weekly report, also supported the market. In addition, the oil shift for electricity due to the shortage of natural gas and coal also boosted the market. Downward pressure on the market was due to the awareness of a decline in heating demand in winter, as the U.S. Oceanic and Atmospheric Administration (NOAA) announced that temperatures in the southern and eastern U.S. this winter would be higher than usual. The fall in coal prices on the news that Chinese authorities would consider intervening in price determination to stabilize coal supply limited alternative demand for crude oil.

CP market prices soared, dragged by crude oil prices. The Far East CFR hit a high of $915 propane momentarily. On the other hand, the market weakened in the fourth weekend due to a decline in LNG prices and a decline in U.S. МB prices in response to an increase in U.S. propane inventories. Demand for cargo in the Middle East is expected to grow, reflecting the view that demand for India will increase in the future, and CP market conditions are likely to keep increasing. The price gap is $40, and butane is cheaper.