03 February 2012 16:28 [Source: ICIS news]
LONDON (ICIS)--European spot propane values increased on Friday as freezing temperatures across Europe and healthy demand from ?xml:namespace>
The most notable price increase was in the ARA (
Milder temperatures during the fourth quarter and the beginning of January had resulted in well-supplied conditions in the propane market, as there was significantly less demand for propane as a heating fuel.
Buying interest from the petrochemical industry was also quiet during this period. Producers were cracking less propane because of concerns that downstream demand was decreasing due to the eurozone debt crisis.
However, sources said the wintery conditions across
Sources also said there were healthy levels of demand from the usually mild-weathered Mediterranean region, but added that supply there was also tight.
In addition, propane stocks in Asia are low and this has opened the arbitrage from Europe to
“Everything is going to
The source added that it expects prices to increase going forward, as stocks in
($1 = €0.76)
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