Saudi Aramco and Sonatrach raise LPG prices for February by 1-5%

SAUDI ARAMCO +0.15%

SAUDI ARAMCO

2222.SA

27.60

+0.15%

- Saudi Arabia's state oil producer Aramco 2222.SE and Algeria's Sonatrach have raised official selling prices for liquefied petroleum gas in February by between 1% and 5.3% because of limited global supply, traders said.

Saudi Aramco's February OSP increased by $20 a metric ton to $545 a ton PRO-OFFCL-SA for propane and by $20 a ton to $540 a ton BUT-OFFCL-SA for butane.

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 increased its February OSP for propane by $25 a ton to $500 PRO-OFFCL-DZ and for butane by $5 a ton to $490 a ton BUT-OFFCL-DZ.

Aramco's OSPs are used as a reference for contracts to supply LPG from the Middle East to the Asia-Pacific region.

Sonatrach's OSPs are used as benchmarks for the Mediterranean and Black Sea region, including Turkey.