Butane prices hit decade highs on trade reorientation, supply tightness

Global butane prices have surged to multi-decade highs, with Northwest European November prices at $1,125/t (30-year high) and US Belvieu at a 14-year high of $920/t. The spike is driven by reoriented propane/butane trade flows following the US-Iran war and overlapping supply-demand tightness. The sustained high prices signal structural shifts in LPG markets, with implications for petrochemical feedstock costs and energy inflation.

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