CP in January, 2026 : 522.5 USD/t (+ 32.5 USD from December)
C3 : USD 525 (+ 30 USD from December) / C4 : 520 (+ 35 USD from December)
Toward the year-end, colder weather intensified across East Asia, leading to a decline in temperatures and an increase in winter heating demand for LPG.
In December, operating rates at Chinese PDH plants stabilized. Meanwhile, U.S.-origin LPG faced logistical disruptions,
including loading delays, which further boosted demand for Middle Eastern LPG.
As a result, the January 2026 CP average increased by USD 32.5 per metric ton compared with December.
The average WTI crude oil price in December decreased by approximately USD 1 per barrel from November.
In our view, considering the continued growth in winter heating demand and ongoing logistical constraints,
including loading delays and fog impacting U.S.-origin LPG, the CP for February 2026 is expected to increase further.
(Reference Material：Eneos Weekly Report, Astomos Energy Monthly Report, RIM)
※Our forecast is only our opinion and do not guarantee CP trends in the future.
