Business · Energy & Commodities · 4 hrs ago
Butane prices hit decades-long highs as supplies shift toward Asia
Global butane prices have climbed to historic highs, with November prices reaching a 30-year peak in northwest Europe and a 14-year high in the United States.
The surge follows the US-Iran war, which began in March and disrupted Middle Eastern LPG exports.
Before the conflict, Gulf countries supplied much of Asia’s LPG; the US increased shipments to fill the gap, and US supplies reached as much as 75% of Asian imports from April to October.
Asia’s demand is drawing US cargoes away from Europe, where October butane imports into the Amsterdam-Rotterdam-Antwerp hub fell to a multi-year low.
The shift is especially difficult for India because its cooking-gas needs include more butane than US LPG exports typically contain, and its imports fell sharply in March.
China’s growing industrial demand adds further pressure, while winter fuel requirements in the US and Europe also lift seasonal consumption.
Gulf shipments have begun to recover, but they have not yet restored enough LPG supply to reduce Asia’s reliance on US cargoes.
Global butane prices have climbed to decade- or multi-decade highs as supplies shift toward Asia.
Northwest European November prices reached $1,125 per tonne, their highest level in 30 years.
The US supplied as much as 75% of Asian propane and butane imports from April to October, drawing cargoes away from other regions.
Middle Eastern LPG shipments have recovered, but the article says they remain insufficient to meet Asia’s needs.
Seasonal demand for butane in the Atlantic basin is also adding pressure to prices.
- Who
- Butane buyers and suppliers, including the United States, Gulf producers and Asian importers.
- What
- Butane prices have surged as global LPG trade shifts toward Asia and supplies tighten elsewhere.
- When
- Prices were reported in early November 2026; the Asian AFEI index figure is dated November 3.
- Where
- Northwest Europe, Asia and the United States.
- Why
- US cargoes have been redirected to Asia after Gulf exports fell, while Asian demand and seasonal Atlantic basin consumption have added pressure.
This story does not have two clearly opposing sides.
The US-Iran war began, followed by a reorientation of global propane and butane trade flows.
US propane and butane supplied as much as 75% of Asian imports.
US supplies accounted for around 55% of Asian imports as deliveries from Gulf countries recovered.
Northwest European November butane prices reached $1,125 per tonne.
- Northwest European butane
- $1,125 per tonne in early November; highest in 30 years
- Asian AFEI index
- $1,180 per tonne on November 3
- US Belvieu butane
- $920 per tonne; a 14-year high
- US share of Asian LPG imports
- As much as 75% from April to October
- ARA hub butane imports
- 130,000 tonnes in October, down 34% year on year