COMMENTARY: Down, Down, Down

More precipitous declines were seen for principal postings Thursday, which doubled down on the double-digit freefalls of early in the week to give up another 17 to as much as 42 cents compared to the Monday email Update. The deep discounts prompted all but one seller to resume providing postings for publication, however, Plains Marketing’s U.S. prices were still not available (NA).

Postings at Apex, N.C. on the Dixie Pipeline dropped 18 to 42 cents to shift prices down to a range of 129.25 to 138.00 cents/gal. At Conway, Kan. on MAPCO, postings gave up 21.50 to 27 cents and prices were from 130.75 to 135.50 cents.
TEPPCO postings at Selkirk, N.Y. shed 21 to 34.75 cents over the week, and prices Thursday showed a low of 192.34 cents and a high of 203.25 cents/gal. Mont Belvieu postings, which ranged from 130.625 to 142.00 cents, lost 12 to 21.25 cents.
Alliance Energy Services and Enterprise Products fell 18 cents at Apex; CHS/Cenex 28.25 cents; NGL Supply Ltd. 30 cents; NGL Supply Wholesale LLC 37 cents; and Martin Gas Sales 42 cents/gal.
CHS/Cenex was 21.50 cents lower at Conway; NGL Supply Wholesale 23 cents; and Alliance Energy and Inergy Services 27 cents/gal. Enterprise Products’ Kearney, Mo. posting on MAPCO was off 25.5 cents.
At Selkirk, Enterprise Products lopped off 21 cents; Inergy 25 cents; CHS/Cenex 27.50 cents; NGL Supply Wholesale 33 cents; and DCP/GSR 34.75 cents/gal.
Targa Resources gave up 12 cents at Mont Belvieu; Martin Gas 17 cents; Enterprise Products 20 cents; and CHS/Cenex 21.25 cents/gal.