Mont Belvieu, Texas, butane tumbled 6.7% last week to a 34-month price low, and was joined by isobutane, which hit its lowest point since September 2016.

The hypothetical NGL barrel at Mont Belvieu reflected the slump by declining to a point not seen since Independence Day 2017. With the exception of C5+, margins narrowed across the board.

Normal butane is off 33% since peaking for the year at a little over 85 cents per gallon (gal) in mid-February. It is down 43% compared to the same week in 2018, and its price on May 21 was 37.5% of West Texas Intermediate (WTI) crude oil.

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