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U.S. Propane Market Headed for ‘Armageddon’ This Winter, IHS Says

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U.S. propane prices are so high and supplies so scarce that the market appears headed for “armageddon” during the depths of winter, according to research firm IHS Markit Ltd.

Stockpiles of the key heating fuel and manufacturing feedstock in the world’s biggest economy probably have already topped out for the year and will be stretched as cold weather descends in coming weeks, Edgar Ang, an IHS analyst, said during a webcast presentation on Tuesday.