Saudi Aramco lifted February contract price by $10/ton

The Saudi Arabian Oil Co., also known as Saudi Aramco has announced the contract price for propane to Asia for February loading with a $10/ton increase from the previous month. This is the third consecutive price hike from the producer given the tight supply conditions.

The propane price is stable at $630/ton based on FOB Ras Tanura.

The prices act as an indicator for other Middle East liquefied petroleum gas (LPG) producers to gauge the Asian market acceptance. 

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.