Saudi Arabia March Propane futures dropped $30 to $894

Ten days left for Saudi Arabia to set the CP price. However propane futures dropped $30 amid Japanese stock build. There is still $76 gap between the February propane CP price($970) and March Swap future($894).  US will export to the Japanese and South Korean LPG markets  2.3 million barrels of US-sourced LPG over March 2014. This is one of the key reasons regarding to this change. The other is colder weather is leaving Japan which will also put pressure on propane futures.

Saudi Arabia 2014 Propane CP Futures

CP Prices

Product  February 2014  -  January 2014  Change 
Propane  $970                          $1010                  -40
Butane     $970                           $1020                   -50


Related:

Saudi Aramco February CP Price
Saudi Aramco January CP Price