Saudi Aramco lowers feedstock prices in December: Aljazira Cap

State-owned Saudi Aramco has reduced propane price for the December contract by 17.6 percent to $445 per ton and by 21 percent for butane to $415 per ton, Aljazira Capital said in a new report on Monday.

Feedstock prices continued to decline in November, with propane and butane prices falling to $540 and $525 per ton, respectively. The PP-propane spread expanded to $673 per ton last month from $605 in October.

Naphtha prices plunged 22.8 percent month-on-month (MoM) to $490 per ton in November compared to October. PP prices slipped 9.4 percent MoM to $1,150 per ton while propylene prices dropped 22.5 percent to $845 per ton.

Meanwhile, the consultancy said Brent prices declined 24.4 percent MoM, while WTI prices fell 24.6 percent MoM in November, ending at $58.7 and $50.9 per barrel, respectively.