Wholelesale propane prices in Wisconsin continued to jump this month. Prices increased nearly 14 cents this past week. Price have moved up almost 23 cents since last month. Residential propane prices haven’t moved as much, but the trend is clearly up. Use this information when negotiating with your propane supplier.
Residential Propane Price Increases Again
Current propane prices continue to trend upward this winter. The average residential propane gas price increased 1.6 cents per gallon to reach 228.9 cents per gallon. This was a decrease of 11.2 cents per gallon compared to the 240.1 cents per gallon average from the same period last year. Wholesale propane prices gained 2.7 cents per gallon, from 120.1 cents per gallon to 122.8 cents per gallon. This was an increase of 36.9 cents per gallon when compared to the December 1, 2008 price of 85.9 cents per gallon.
Propane Inventories Decline Again
Total U.S. inventories of propane fell last week for the seventh straight week, by 0.9 million barrels, to 62.7 million barrels. The Gulf Coast realized the largest decline of 0.9 million barrels, while the Midwest regional inventories dropped 0.8 million barrels. The East Coast regional inventories grew by 0.7 million barrels and the Rocky Mountain/West Coast inventories rose slightly.
source EIA
current proapne gas prices
Residential propane prices in Pennsylvania slightly dipped this week. Propane prices dropped 2 cents this week, the first decline in over a month. However, wholesale propane prices for the week rose by 3 cents, the second week in a row with rising propane prices.
Weekly average home heating oil prices New Jersey for the week ending January 23, 2012
| Weekly New Jersey Heating Oil Prices | |||||||||
| 1/2/2012 | 1/9/2012 | 1/16/2012 | 1/23/2012 | ||||||
| Residential Heating Oil Prices NJ | 3.958 | 4.067 | 4.089 | 4.077 | |||||
| Wholesale Heating Oil Prices NJ | 2.994 | 3.153 | 3.121 | 3.081 | |||||
| source EIA | |||||||||
| Weekly Connecticut Heating Oil Prices | |||||||||
| 1/9/2012 | 1/16/2012 | 1/23/2012 | 1/30/2012 | ||||||
| Residential Heating Oil Prices CT | 4.079 | 4.113 | 4.083 | 4.099 | |||||
| Wholesale Heating Oil Prices CT | 3.184 | 3.154 | 3.115 | 3.187 | |||||
| source EIA | |||||||||
Propane prices increase for the week of 11/23/2009
The average residential propane price increased 3.1 cents per gallon to reach 227.2 cents per gallon. This was a decrease of 14.3 cents per gallon compared to the 241.5 cents per gallon average from the same period last year. Current propane prices gained 3.1 cents per gallon, from 117.0 cents per gallon to 120.1 cents per gallon. This was an increase of 38.9 cents per gallon when compared to the November 24, 2008 price of 81.2 cents per gallon.
Propane Inventories Continue to Decline
Propane inventories continued to fall last week from their October peak. Total U.S. inventories dropped over 1.8 million barrels to 63.6 last week. Consequently, primary inventories of propane have moved closer to the lower boundary of the average range for this time of year. The Midwest region led the decline with 1.3 million barrels of drawn. The East Coast regional inventories declined 0.4 million barrels, while the Gulf Coast and Rocky Mountain/West Coast regions both drew 0.1 million barrels of inventory.
source EIA
Here are the weekly propane prices in Pennsylvania for the week ending November 23, 2009. These prices are complied by the EIA. You may use this information
when shopping for propane prices in your area. As you can see, residential propane prices for Pennsylvania have risen over 3 cents this week.
Light, Sweet Crude Oil Futures 1,000 U.S. barrels (42,000 gallons). U.S. dollars and cents per barrel. Open outcry trading is conducted from 10:00 AM until 2:30 PM.After hours futures trading is conducted via the NYMEX ACCESS internet-based trading platform beginning at 3:15 PM on Mondays through Thursdays and concluding at 9:30 AM the following day. On Sundays, the session begins at 7:00 PM. 30 consecutive months based on a quarterly listing schedule plus long-dated June futures initially listed out three years, and long-dated December futures initially listed out three to seven years.Additionally, trading can be executed at an average differential to the previous day’s settlement prices for periods of two to 30 consecutive months in a single transaction. These calendar strips are executed during open outcry trading hours.
$0.01 per barrel ($10.00 per contract).$10.00 per barrel ($10,000 per contract) for all months. If any contract is traded, bid, or offered at the limit for five minutes, trading is halted for five minutes. When trading resumes, the limit is expanded by $10.00 per barrel in either direction. If another halt were triggered, the market would continue to be expanded by $10.00 per barrel in either direction after each successive five-minute trading halt. There will be no maximum price fluctuation limits during any one trading session. Trading terminates at the close of business on the third business day prior to the 25th calendar day of the month preceding the delivery month. If the 25th calendar day of the month is a non-business day, trading shall cease on the third business day prior to the business day preceding the 25th calendar day.
Physical. F.O.B. seller’s facility, Cushing, Oklahoma, at any pipeline or storage facility with pipeline access to TEPPCO, Cushing storage, or Equilon Pipeline Co., by in-tank transfer, in-line transfer, book-out, or inter-facility transfer (pumpover). All deliveries are ratable over the course of the month and must be initiated on or after the first calendar day and completed by the last calendar day of the delivery month. An alternate delivery procedure is available to buyers and sellers who have been matched by the Exchange subsequent to the termination of trading in the spot month contract. If buyer and seller agree to consummate delivery under terms different from those prescribed in the contract specifications, they may proceed on that basis after submitting a notice of their intention to the Exchange. The commercial buyer or seller may exchange a futures position for a physical position of equal quantity by submitting a notice to the Exchange. EFPs may be used to either initiate or liquidate a futures position. Specific domestic crudes with 0.42% sulfur by weight or less, not less than 37API gravity nor more than 42 API gravity. The following domestic crude streams are deliverable: West Texas Intermediate, Low Sweet Mix, New Mexican Sweet, North Texas Sweet, Oklahoma Sweet, South Texas Sweet.Specific foreign crudes of not less than 34; API nor more than 42; API. The following foreign streams are deliverable: U.K. Brent and Forties, for which the seller shall receive a 30 cent per barrel discount below the final settlement price; Norwegian Oseberg Blend is delivered at a 55barrel discount; Nigerian Bonny Light, Qua Iboe, and Colombian Cusiana are delivered at 15 premiums. Inspection shall be conducted in accordance with pipeline practices. A buyer or seller may appoint an inspector to inspect the quality of oil delivered. However, the buyer or seller who requests the inspection will bear its costs and will notify the other party of the transaction that the inspection will occur. Any one month/all months: 20,000 net futures, but not to exceed 2,000 contracts in the last three days of trading in the spot month. Margins are required for open futures positions.
source NYMEX Inc
Trading Natural Gas Futures
Natural gas futures are traded on the New York Mercantile Exchange. This is the largest natural gas futures market in the world. Below are the contract specs for natural gas futures.
Trading Unit10,000 million British thermal units (mmBtu).Price QuotationU.S. dollars and cents per mmBtu.Trading Hours (All times are New York time)Open outcry trading is conducted from 10:00 AM until 2:30 PM.After hours futures trading is conducted via the CME Globex trading platform, with the following schedule:Sunday 6:00 PM until 9:50 AM the following day (Monday’s trade date)Monday Thursday 3:15 PM until 5:15 PM the same day (Current trade date)6:00 PM until 9:50 AM the following day (Next trade date)Friday 3:15 PM until 5:15 PM (Friday’s trade date)Trading Months72 consecutive months commencing with the next calendar month (for example, on January 6, 2004, trading occurs in all months from February 2004 through January 2010).Minimum Price Fluctuation$0.001 (0.1) per mmBtu ($10.00 per contract).Maximum Daily Price Fluctuation$3.00 per mmBtu ($30,000 per contract) for all months. If any contract is traded, bid, or offered at the limit for five minutes, trading is halted for five minutes. When trading resumes, the limit is expanded by $3.00 per mmBtu in either direction. If another halt were triggered, the market would continue to be expanded by $3.00 per mmBtu in either direction after each successive five-minute trading halt. There will be no maximum price fluctuation limits during any one trading session.Last Trading DayTrading terminates three business days prior to the first calendar day of the delivery month.Settlement TypePhysical.DeliveryThe Sabine Pipe Line Co. Henry Hub in Louisiana. Seller is responsible for the movement of the gas through the Hub; the buyer, from the Hub. The Hub fee will be paid by seller.Delivery PeriodDelivery shall take place no earlier than the first calendar day of the delivery month and shall be completed no later than the last calendar day of the delivery month. All deliveries shall be made at as uniform as possible an hourly and daily rate of flow over the course of the delivery month.Alternate Delivery Procedure (ADP)An alternate delivery procedure is available to buyers and sellers who have been matched by the Exchange subsequent to the termination of trading in the spot month contract. If buyer and seller agree to consummate delivery under terms different from those prescribed in the contract specifications, they may proceed on that basis after submitting a notice of their intention to the Exchange.Exchange of Futures for Physicals (EFP) or Swaps (EFS)The commercial buyer or seller may exchange a futures position for a physical position or a swaps position of equal quantity by submitting a notice to the Exchange. EFPs and EFSs may be used to either initiate or liquidate a futures position.Grade and Quality SpecificationsPipeline specifications in effect at time of delivery.Position Accountability Levels and LimitsAny one month/all months: 12,000 net futures, but not to exceed 1,000 in the last three days of trading in the spot month.Margin RequirementsMargins are required for open futures positions.
Trading SymbolNG
Source: New York Mercantile Exchange, Inc
Crude oil prices are determined by worldwide supply and demand. Events in crude oil markets that caused spikes in crude oil prices were a major factor in all but one of the five major run-ups in gasoline prices between 1992 and 1997, according to the National Petroleum Council study U.S. Petroleum Supply – Inventory Dynamics. Rapid gasoline price increases occurred in response to crude oil shortages caused by the Arab oil embargo in 1973, the Iranian revolution in 1978, the Iran/Iraq war in 1980, and the Persian Gulf conflict in 1990. The cost of crude oil has been the main contributor to recent increases in gasoline prices. World crude oil prices reached record levels in 2007 due mainly to high worldwide oil demand relative to supply.
Other factors contributing to higher crude oil prices include political events and conflicts in some major oil producing regions, as well as other factors such as the declining value of the U.S. dollar (the currency at which crude oil is traded globally).
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