Weekly Mont Belvieu Propane-Butane Market Update – February 27th, 2026

By Ehi Okoduwa ــ Last Update 03 March 2026

Weekly Mont Belvieu Propane–Butane Market Update – February 27th, 2026

Weekly Average LPG Prices:

23/02/2026: Propane $315.5 | Butane $359.6

24/02/2026: Propane $305.1 | Butane $355.7

25/02/2026: Propane $311.9 | Butane $371.7

26/02/2026: Propane $319.8 | Butane $383.6

27/02/2026: Propane $322.0 | Butane $392.4

LPG Prices – LPG prices respond to Geopolitical developments in the Middle East.

LPG prices made a U-turn in response to the geopolitical developments between the US, Iran, and Israel, with respect to the war-related tensions, which have now escalated into bombings of major cities in the Middle East. The extent of the recent hostilities and effect on energy prices could be drastic, depending on how hard oil & gas production and transit infrastructure are affected.

The Strait of Hormuz, which is an important global transit point for Oil and Gas products, comes into focus as closure could send prices to new highs. We have already seen Butane at 414 USD/MT ( 02/03/2026) - the highest since September 2025. Propane prices rose by 0.1 percent on the weekly average, while Butane prices jumped by 5.0% against the previous week.

Propane: averaged $314.9/MT, up from $314.6/MT

Butane: averaged $372.6/MT, down from $355.03/MT

Crude Oil – Crude prices rebound (WTI: $66.64 | Brent: $72.49)

Crude oil prices continued their upward trajectory in response to escalated tensions between Iran and the US. WTI bounced off 65.79 USD per barrel in the previous week, closing at 66.64, while Brent Crude bounced off 71.08, closing at 72.49 USD per barrel, by the end of last week. Today, Crude oil prices crossed the 80 USD mark as bombings occur in major cities in the Middle East. The effect of the recent happenings has resulted in a halt in the production of LNG in parts of the Middle East, meaning prices are going to be hitting new highs if we don't see a de-escalation soon.

Weekly Close:

WTI: $66.64 (up from $65.79)

Brent: $72.49 (up from $71.08)

Outlook:

Looking at the damaging effect a prolonged US-Iran war could cause, we see a compromise arising from a US- Iran Peace talk, so we see a de-escalation of the hostilities soon, which should bring prices back to the sub - 70s. The OPEC+ has also resolved to increase oil production, which should reduce the strain on supply.

Nigeria LPG Market – LPG prices show different trends across regions.

While Depot prices in Apapa rose from circa 15.6 million to 15.9 million in Apapa, prices dropped in the South-South region, from circa 16.6 million per 20MT to circa 16 million. Prices have since jumped to 19 million in Apapa in the current week in response to international prices. We expect prices to retrace to lower levels by the weekend.