The hypothetical NGL barrel at Mont Belvieu, Texas, rose again last week, remaining above $20 for the seventh straight week despite another hit to the price of ethane.

Mont Belvieu propane continued to inch up, as well, and is now 20.5% above its low for the year, reached in mid-August. Propane fundamentals are improving and prices could be primed for a seasonal pickup. EnVantage Inc. noted in a recent report that Midcontinent inventories have declined, crop drying is underway and temperatures are cooling.

The price of West Texas Intermediate crude jumped 2.7% on news that oil inventories were reduced by 1.7 million barrels in the week ending Oct. 18. Increased refinery runs and traders took into account the chances that OPEC will trim output.

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