Butane's Perfect Storm Sends Prices To Decade Highs Authored by Natalia Katona via OilPrice , Butane prices are surging across the world. Northwest European November butane prices have reached $1,125/t by early November, their highest level in 30 years , having exceeded even the peaks following Russia's invasion of Ukraine.
In Asia, the AFEI butane index stood at $1,180/t on November 3. US butane Belvieu prices have climbed to a 14-year high $920/t. This surge in prices reflects several overlapping trends, with the most significant being a reorientation of global propane/butane trade flows since the US-Iran war kicked off in March.
Before the conflict, the US supplied roughly 45-50% of global LPG exports and the Middle East another 30-35%. After the beginning of the Middle Eastern crisis, the Gulf countries' share subsequently collapsed to 11%, while the US substituted much of this shortfall and its share reached 65%.
Asia has absorbed much of that replacement supply.