Saudi Aramco reduces March butane, propane contract prices

27 February 2014 15:24 Source:ICIS News

SINGAPORE (ICIS)--Saudi Aramco released its March contract prices (CPs) for liquefied petroleum gas (LPG) on Thursday, with propane down by $115/tonne from the previous month to $855/tonne and butane down by $100/tonne to $870/tonne, traders said.

The propane CP was below market expectations of $870-890/tonne.

The sharp declines were because demand from Asian importers had been depressed by high CPs, some traders said.

By Fiona Zhu