Saudi Aramco raises LPG OSPs by up to 3% for June, Sonatrach cuts prices by 18% and 31%

SAUDI ARAMCO
Tadawul All Shares Index

SAUDI ARAMCO

2222.SA

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Tadawul All Shares Index

TASI.SA

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MOSCOW, June 1 (Reuters) - Saudi Arabia's state oil producer Saudi Aramco 2222.SE has raised official selling prices for liquefied petroleum gas by between 1% and 3% in June, while Algeria's Sonatrach has cut them by between 18% and 31% due to higher supply in the Mediterranean market, traders said on Monday.

Saudi Aramco's June OSPs increased by $10 per metric ton to $760 a ton for propane PRO-OFFCL-SA and by $20 a ton to $820 per ton for butane BUT-OFFCL-SA.

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 decreased its June propane OSP by $125 a ton to $575 PRO-OFFCL-DZ and for butane by $270 a ton to $610 BUT-OFFCL-DZ.

Saudi 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.


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