More production, more pipelines, more fractionation, more exports (see Fig 1), this is the profile for U.S. NGLs clearly visible from last week’s RBN Energy xPortCon in Houston. But what does this mean for future Gulf Coast terminal fees?

I’m getting a far better understanding for what is happening to stocks in the US at the moment.  Clearly, they are a lot higher than last year and look as if they’ll push through 5-year highs sometime in June, but if the US winter hits hard and earlier in 4Q this year we might be heading for trouble.