Global butane prices reach multi-decade highs amid tight supply

Global butane prices have climbed to multi-decade highs in early November 2026. Oilprice reported that Northwest European November butane prices reached 1,125 US dollars per tonne, marking their highest level in 30 years. [1]

The surge in prices surpasses the previous peaks recorded following Russia's invasion of Ukraine. Oilprice reported that in Asia, the AFEI butane index rose to 1,180 US dollars per tonne on November 3, while United States butane Belvieu prices increased to a 14-year high of 920 US dollars per tonne. [1]

The price increases stem from overlapping demand pressures across major regional markets. According to Oilprice, cooking gas requirements in India and an expanding chemical industry in China are drawing American butane exports toward Asia, which leaves European supplies constrained as winter gasoline blending demand rises. [1]