US LPG markets experienced a significant price surge in March 2026 as global supply disruptions intensified following the closure of the Strait of Hormuz. With Middle Eastern exports severely restricted, global NGL supply fell by 21%, tightening availability across major importing regions. This disruption redirected Asian buyers toward the United States, sharply increasing U.S. export activity and elevating domestic price benchmarks. Butane FD Texas rose 21.4%, while propane climbed 20%, reflecting the strongest monthly gains in years. Freight costs surged as VLGC rates from the U.S. Gulf Coast to Asia hit USD 172.75/mt, the highest in over two years, while propane export premiums reached Mont Belvieu +35 cents/gal, a record since 2021. Firm crude oil prices and widening naphtha spreads added further upward pressure. Despite some buyer resistance, strong Asian demand for LPG and constrained global supply kept the US market firmly bullish. Prices are expected to rise again in April as supply risks persist.
Selenis has effectively manufactured recycled PET chips using terephthalic acid sourced from Circ®, a textile-to-textile recycler based in Virginia. The chip production took place through a series of batches at Selenis' pilot plant in San-Giorgio, Italy. By utilizing inputs recovered from polycotton textile waste, Selenis has created high-quality PET chip, which has been further processed into DTY yarn. This yarn will play a crucial role in product development as Circ prepares for additional capsule launches. Selenis is leveraging the success of this initial collaboration phase and is committed to advancing towards an offtake partnership to support Circ's inaugural industrial facility.
Eduardo Santos, Head of Corporate Strategy at Selenis, remarked that the monomer synthesis showed a performance comparable to virgin terephthalic acid. He expressed optimism about the consistent quality of Circ's monomer output and anticipated future commercial success. Santos pointed out that the Circ partnership complements Selenis's existing mission and goals for a more sustainable textile industry. He further stated their anticipation of expanding upon this collaboration and providing support for Circ's forthcoming commercial production trials.
