Middle East Economic Survey

VOL. XLVII

No 45

8-November-2004

OIL PRICES

Saudi LPG Prices Reach New Peak On Crude Market Strength

Saudi Aramco and Kuwait Petroleum Corporation (KPC) announced their November LPG contract prices (CPs) to customers on 1 November, raising propane by $65/ton to $463/ton and butane by $70/ton to $473/ton, the highest levels since CPs were introduced 10 years ago. As in the last few months the main factor behind the price hike was again the record-setting run of crude oil...