Natural gas liquids (NGLs), a byproduct of oil and gas production, could benefit from global demand and supply disruptions in 2021, paving a path for rising prices as the year wears on, analysts at Raymond James & Associates Inc. said in a new forecast.

“We still think U.S. NGLs have a pretty bullish set-up, similar to U.S. natural gas,” the Raymond James team said. “We continue to believe the relative U.S. NGL supply headwinds…