Middle East Economic Survey
OIL PRICES/SAUDI ARABIA/OPEC
Saudi LPG Prices Reduced Sharply For February
Saudi Aramco announced on 31 January a cut in the February 2011 LPG contract prices, marking down propane by $115/ton to $820/ton and reducing butane by $110/ton to $810/ton. Walt Hart, Senior Consultant at Houston-based Purvin & Gertz, told MEES: Traders had expected the propane price to fall steeply, and surplus spot cargoes from the Middle East were...