AlwaysFree: Saudi Aramco Announces Propane, Butane Contract Prices For November 2021

Saudi Aramco, on October 31, announced its propane and butane contract prices for November 2021. The propane CP is set at $870 per ton, $70 above the October CP. Meanwhile, the butane CP is set at $830 per ton,  $35 higher than the October CP. That marks the sixth consecutive monthly rise in the CPs. The prices are also above buyers’ expectations of $835-$860 per ton for propane and $815-$840 per ton for butane. Aramco’s CPs set the price for propane and butane under term supply contracts lifted from Yanbu, Ras Tanura, and Ju’aymah ports. They are closely watched by market participants as they typically set the pricing trend in most markets east of the Suez canal.