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Saudi Aramco holds Dec LPG OSPs steady, Sonatrach cuts by 2-3%
Oil producer Saudi Aramco left its December official selling prices (OSPs) for liquefied petroleum gas (LPG) unchanged while Algeria's Sonatrach cut theirs by 2-3% due to rising supply in the Mediterranean region, traders said.
Aramco's December OSP for propane was stable at $635 per metric ton while butane was $630 per ton.
Propane and butane are types of LPG with different boiling points.
LPG is mainly used as a fuel for cars, heating and as a feedstock for other petrochemicals.
Sonatrach lowered its December OSP for propane by $10 per ton to $585 and cut its OSP for butane by $15 per ton to $585 .
Aramco's LPG OSPs are used as a reference for contracts to send the product from the Middle East to the Asia-Pacific region.
Sonatrach's OSPs for LPG are used as benchmarks for the Mediterranean, Black Sea region and Turkey.
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