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Aramcos April OSP for propane decreased by $15 to $615 per metric ton , while that for butane dropped by $20 to $620 per ton
MOSCOW - Saudi Arabias state oil producer Aramco and Algerias Sonatrach dropped April official selling prices (OSPs) for liquefied petroleum gas (LPG) by 0.9%-3.1% versus March due to weaker demand, traders said.
Aramcos April OSP for propane decreased by $15 to $615 per metric ton , while that for butane dropped by $20 to $620 per ton .
Propane and butane are types of LPG with different boiling points.
LPG is mainly used as fuel for cars, heating and as a feedstock for other petrochemicals.
Sonatrach cut its April OSP for propane by $5 per ton to $535 per ton and for butane by $10 per ton to $570 per ton. .
Aramcos OSPs are used as a reference for contracts to supply LPG from the Middle East to the Asia-Pacific region.
Sonatrachs OSPs are used as benchmarks for the Mediterranean, Black Sea region and Turkey. |
