VOL. XL

No. 49

8 December 1997

SAUDI ARABIA

Aramco Hikes December Propane $10/Ton, Leaves Butane Unchanged As Spot Values Plunge

Saudi Aramco's decision to raise its propane contract price for December by some $10 to$238/ton comes against a backdrop of sharply deteriorating conditions in the Mideasttrading market. Recent weeks have witnessed a truly spectacular plunge in spot prices inthe region. Sellers are now marketing spot LPG at levels as low as $20/ton under Saudi CP,down from a slight...