via sda:
Red Rose Country
When commodities trade at negative prices…
Here’s something that doesn’t happen every day.
The price of propane in Edmonton, Canada — home of Tar Sands production — is trading at a negative price.
Which means, if you’ve got propane in Edmonton Canada, chances are you’re having to pay people to take if off your hands right now.
Whilst the above is specific to Edmonton, the wider US picture for propane isn’t much better.
Here’s the stock picture by way of BNP Paribas:
The EIA reported a 1.865 mb net build in propane and propylene inventories last week, raising total US stock levels to 80.66 mb or a y/y storage surplus of 29.419 mb, write the BNP Paribas analysts.
When commodities trade at negative prices… | FT Alphaville
probably
Red Rose Country
When commodities trade at negative prices…
Here’s something that doesn’t happen every day.
The price of propane in Edmonton, Canada — home of Tar Sands production — is trading at a negative price.
Which means, if you’ve got propane in Edmonton Canada, chances are you’re having to pay people to take if off your hands right now.
Whilst the above is specific to Edmonton, the wider US picture for propane isn’t much better.
Here’s the stock picture by way of BNP Paribas:
The EIA reported a 1.865 mb net build in propane and propylene inventories last week, raising total US stock levels to 80.66 mb or a y/y storage surplus of 29.419 mb, write the BNP Paribas analysts.
When commodities trade at negative prices… | FT Alphaville
probably
