Spot propane values at Mont Belvieu and Conway, Kan. strengthened considerably late in the week compared to the Monday email Update, while at the same time drawing nearly even. Thursday trading saw the Belvieu market move up 4.75 cents to a nickel, while Midwest propane had hardened by nearly 6 cents over the same period. The late-week gains followed spots climbing 1.125 to 1.25 cents at Mont Belvieu on Monday and Conway edging 2 cents higher. Propane at both the Texas and Kansas hubs was trading at about 43% the value of crude oil on a per-gallon basis, and with that latter commodity's price being bolstered by the worsening geopolitical situation in Iraq, propane is also riding higher, market watchers note.
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