Energy markets continue to be shaped by geopolitical developments and shifting global trade flows. Asian demand remains a key driver, with China increasing purchases of discounted Russian crude while other buyers scale back, keeping barrels moving despite sanctions pressure. At the same time, supply risks remain elevated as disruptions to key pipelines, military activity near major shipping lanes, and heightened tensions involving Russia, Iran, and Eastern Europe underscore ongoing logistical uncertainty. Offsetting some of these risks, increased investment and production growth in regions such as Guyana and Libya are helping improve medium‑term supply diversity.
Markets are likely to remain volatile and headline‑driven, with prices reacting quickly to geopolitical developments. While demand growth appears steady but not aggressive, ongoing supply and transportation risks suggest continued price swings rather than a sustained move higher or lower in the near term.
If you have any questions or would like current pricing, please contact your Energy Account Manager.
Propane
Propane inventories moved lower this week, with total supply declining by just over 3 million barrels. While the draw was slightly smaller than market expectations, it continues the seasonal tightening trend seen across all major regions, including the Gulf Coast, Midwest, and East Coast. Increased export activity also contributed to the weekly reduction. Even with these draws, overall inventory levels remain well supplied, sitting comfortably above both last year’s levels and the five‑year average.
The market appears steady with a mildly supportive near‑term tone as inventories continue to trend lower and exports remain active. However, the larger‑than‑normal supply cushion should help limit volatility and provide stability moving forward. For customers, this points to a balanced market environment where supply availability remains strong, while gradual tightening could offer support to values as the season progresses.
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