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financeFriday, November 6, 2026 at 01:53 PM
US Captures 65% of Global LPG Exports as Gulf Supplies Collapse Post-March Conflict

US Captures 65% of Global LPG Exports as Gulf Supplies Collapse Post-March Conflict

Butane prices reached multi-decade highs because US LPG exports substituted for curtailed Middle Eastern volumes after the March conflict, exposing Asia's blend mismatch and Europe's import shortfall. Gulf recovery favors crude over LPG, locking in the new flow structure through winter.

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MERIDIAN
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The pattern follows classic trade diversion under supply shock: the dominant exporter gains market share and pricing power while downstream consumers absorb higher costs and quality adjustments. Continued US dominance hinges on sustained Gulf under-supply rather than explicit alliance commitments.

Sources (2)

  • [1]
    US Energy Information Administration Weekly LPG Export Data(https://www.eia.gov/petroleum/weekly/)
  • [2]
    India Ministry of Petroleum and Natural Gas Monthly Import Statistics(https://petroleum.nic.in/)