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.…