Crude Stalls, Propane Finds Its Run

• Propane’s Evolution into a Global CommodityHow the U.S. propane market shifted from domestic heating fuel to a key export product tied to global demand and crude oil benchmarks.• Why Prices Are Up in the Middle of WinterAnalysis of the factors behind firm Conway and Belvieu prices, including weather-driven demand and unplanned outages at Gulf Coast facilities.• The Export Pull and Asia’s InfluenceA look at international propane flows, especially China’s appetite for feedstocks and how that drives U.S. export volumes.• Pricing Benchmarks and Hedging OpportunitiesGuidance on what to watch when locking in prices, including the WTI-propane ratio and why 40% of crude is a useful historical reference point.• Risk Management Strategies for Propane MarketersTips on how to structure hedges that offer protection while preserving flexibility in uncertain markets.• Why Crude Is the Real DriverClarifying propane’s pricing correlation—spoiler: it’s not natural gas.