The World’s Main Channel is Blocked. Winter fuel prices can be outrageous.
Climate change may be making winters more unpredictable. It could also make your winter heating bills more predictable, especially if you live at the end of long and vulnerable fuel supply chains.
The price of liquefied petroleum gas, an important US export, has recently risen to record highs in Asia, a surprising development as crude oil prices have been falling. Prices for Brent crude, the main global benchmark, are down about $9 a barrel, or about 10%, since mid-September. But Asian propane LPG prices are only 3% lower, data from Argus Media shows, trading around $665 per metric ton at the end of November.
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