Global LPG Market Intelligence and Resources

Intelligence Snapshot: Global Market Response

As of March 5, the global LPG market is navigating a historic supply-chain realignment. With Middle East activity at a standstill, the focus has shifted to the USGC-Asia Arbitrage window, which has widened to $305/mt. OPIS provides the daily transparency required to track these shifting margins in real-time. → Access key intelligence daily: Sign up for a trial of the Global LPG & Naphtha Report.

Asia Price Surge: CFR Japan propane has risen 34% to $785.75/mt, regaining a premium to naphtha. Butane has strengthened further (up 37% to $827.75/mt) as Middle East export cargoes become increasingly difficult to source.
The Arb Widens: While OPIS Mont Belvieu prices saw moderate gains (Propane up 14%), the U.S.-Asia arbitrage has nearly doubled to $305/mt.
U.S. Export Constraints: As the world pivots to the U.S. for supply, Gulf Coast terminals are running near capacity. Spot FOB USGC terminal fees have surged to a 16-month high of over 20 cts/gal.
Freight Stabilization: Houston-Chiba VLGC spot rates have settled near pre-conflict levels of $149/mt as vessels ballast West seeking employment amid the Middle Eastern standstill.

Market News and Insight

Stay informed with high-frequency analysis and price transparency from our global editorial team. → Visit the OPIS website to read complimentary articles (no login required).

- Butane Increases Share in US Export Portfolio at Expense of Propane

- India's LPG Stocks Under Pressure Amid Middle East Restrictions

- Vietnam’s PV Gas Boosts LPG Output Amid Mideast Supply Disruptions

- South Korea Gets Ready to Tap Internal Reserves Amid Iran Crisis

- FOB US Gulf Coast Propane Values Reach Highest Level in More than 16 Months

- Mideast Conflict Widens US-Asia LPG Arbitrage Window

- Aramco’s Juaymah Outage Lifts Asian LPG Prices as Buyers Seek Alternative

- USGC-Europe, Asia LPG Arbitrages Soar to 16-Month High

- Asia’s Propane-Butane Spread Narrows on Shift to Mixed US Cargoes

- Rising Prices, Maintenance to Cap Asia’s LPG Cracking in March: OPIS Poll

Bridging the USGC Intelligence to the World

Global LPG & Naphtha Report

The OPIS Global LPG & Naphtha Report is the industry's primary daily intelligence tool for connecting the U.S. Gulf Coast to the world. It provides a unified view of the factors that define global profitability, ensuring your team isn't just seeing prices, but the math behind the trade.

It is the only daily market report that integrates OPIS Mont Belvieu benchmarks with global import markers, allowing you to compare delivered costs from the world’s main supply hubs in a single, comprehensive view.

Propane and Butane Forecast and Analytics

Global LPG Outlook

While daily markets focus on execution, the OPIS Global LPG Outlook provides the long-range visibility required for risk management and capital allocation. This is the industry’s premier forecasting tool, blending the real-time liquidity of OPIS benchmark data with the deep-sector expertise of Chemical Market Analytics.

The Outlook transforms complex trade data into a clear roadmap for propane and butane markets worldwide. It is designed for stakeholders who need to look beyond the current window to anticipate supply-side shifts, demand evolution, and the long-term trajectory of global markets.