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Saudi Aramco raises propane prices for January 2020

Saudi Aramco raises propane prices for January 2020
Aramco set the January price for butane at $590 per ton
SAUDI ARAMCO
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Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has set the price for January propane shipments at $565 per ton, up from $440 in December.

Meanwhile, Aramco set the January price for butane at $590 per ton, compared with $455 in the previous month, Reuters reported.

Aramco propane prices provide a benchmark for pricing Middle East liquefied petroleum gas (LPG) sales to Asian markets.

It is worth noting that the Dubai Mercantile Exchange (DME) recently announced that Kuwait Petroleum Corporation (KPC) will use the DME Oman Futures contract as a price reference for Kuwaiti crude oil exports to Asia starting from 1 February 2020 onwards.