Saudi Aramco raises propane, butane prices for July

01 July 2013 08:13  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi Aramco said over the weekend of 29-30 June that it would increase its July contract prices of propane and butane by $50/tonne (€38.50) and $20/tonne respectively from June’s price levels.

Its July contract prices of propane and butane are now at $795/tonne and $790/tonne respectively on an FOB (free on board) basis, the Saudi Arabian oil and gas company said.

The price hike which has given Saudi Aramco’s July propane prices a premium over butane was a reflection of higher demand for propane, according to traders.

The major regional supplier’s July prices are in line with market expectations, traders added.

($1 = €0.77)

By: Lilian Hua

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