CORRECTION: Saudi Aramco cuts contract propane prices for the first time in six months

The state oil and gas giant Saudi Aramco has opened December contract prices for propane to Asia with reduction, ending the six months gaining streak on the back of weaning demand.   

The price provides a benchmark against which Middle East sales of liquefied petroleum gas (LPG) to Asia are priced.

The latest price stands at $795/ton, FOB from the port of Ras Tanura. 

The producer’s price list for propane and butane are shown in the following table:

Propane is a primary feedstock used by propane dehydrogenation (PDH) operators in producing propylene monomers.

** This version updated the contract prices for both propane and butane. The previous publication reported propane at $790/ton and butane at $770/ton, which were inaccurate.