CP in March, 2025 : 610 USD/t (- 20 USD from February)
C3 : USD 615 (- 20 USD from February / C4 : 605 (- 20 USD from February)
Concerns over trade friction over the Trump administration’s tariff policy and Russia’s agreement to begin negotiations for a ceasefire with Ukraine led to a decline in crude oil prices, which in turn led to a decline in the March CP. In India, LPG inventory levels were high and demand was sluggish, and buying interest from China was weak after the Chinese New Year, and PDH operating rates continued to stagnate.
Naphtha prices fell for the first time in 2 months, and butane demand also stagnated. The February WTI average fell by about $4 per barrel compared to the January average.
Our view for future CP trends is that the current easing of supply and demand will continue, with winter heating demand gradually declining, and the April CP also expected to fall.
(Reference Material：Eneos Weekly Report, Astomos Energy Monthly Report, EIN)
※Our view is only our opinion and do not guarantee CP trends.
