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FINWIRES

Aramco Slashes July LPG Contract Prices

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Saudi Aramco lowered its July official selling prices for liquefied petroleum gas, reflecting the stabilization of maritime transit via the Strait of Hormuz following the recent US-Iran preliminary peace deal.

In an emailed statement on Tuesday, the state-owned oil producer reduced the July OSP for propane to $580 per metric ton, a decrease from $760/MT for June.

Butane OSP was lowered to $600/MT from $820/MT.

These OSPs are a critical global benchmark, serving as the pricing basis for long-term supply contracts across the Asia-Pacific region.

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