CP in April, 2026 : 775 USD/t (+ 232.5 USD from March)
C3 : USD 750 (+ 205 USD from March)/ C4 : 800 (+ 260 USD from March)
Escalating military conflict involving the United States, Israel, and Iran has caused severe disruption in the global energy market.
Retaliatory attacks have impacted key facilities in the Gulf region, and the effective closure of the Strait of Hormuz has significantly disrupted exports of crude oil, LPG, and other energy products from the Middle East.
Crude oil prices have surged sharply, with WTI exceeding USD 100 per barrel, which has strongly supported LPG price increases.
In the Asian market, heavy reliance on Middle Eastern supply has led to a rapid tightening of supply-demand conditions. Spot prices have risen significantly above CP levels.
In addition, freight rates and bunker fuel prices have surged, substantially increasing overall logistics costs and further pushing up LPG prices.
Furthermore, the sharp increase in naphtha prices has encouraged substitution demand toward butane in the petrochemical sector, contributing to the relative strength of butane prices.
The significant increase in April CP reflects these supply disruptions, rising logistics costs, and elevated spot market prices.
Looking ahead, market conditions are expected to remain highly volatile, largely influenced by geopolitical developments and crude oil price movements.
(Reference Materials： Eneos Weekly Report, Astomos Energy Monthly Report, RIM, EIN)
※Our forecast is only our opinion and do not guarantee CP trends in the future.
