Summary
Sentiment largely improved this fortnight in Asian LPG, with the Oct/Nov Far East (FEI) propane spread surging up from -$3/mt on 14 Aug to $1.50/mt on 27 Aug. This strength pressured the arb between US Mont Belvieu TET propane (LST) and FEI, with the Oct’24 LST/FEI collapsing from over -$220/mt on 20 Aug to an intraday low just shy of -$240/mt on 28 Aug.
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