VOL. XLII

No. 28

12-July-1999

SAUDI ARABIA

Aramco Boosts LPG Contract Prices $35/Ton Amid SupplySqueeze

Saudi Aramco may have boosted its LPG contract prices (CP)by a hefty $35, but the July CP of $183/ton actually represented the average ofthe company痴 three tender awards for the month and thus should not beconsidered excessive. Companies which had bought cargoes at fixed rates andresold them to third parties on CP-related terms bid aggressively into thetenders during last month痴 trading window...