Daily Analytical Report on Middle Eastern LPG Markets – Platts

• The July M1 Aramco Contract Price has increased, while crude oil prices have declined.
• The freight rate for shipments from the Middle East to Japan stands at $51.30 per metric ton.

Platts assessed the spread between the front-month June–July Saudi Contract Price (CP) at $26.50/mt as of 5:00 p.m. SGT at the close of the Singapore LPG market on May 8, marking a decline from $31/mt recorded on May 7. Meanwhile, the July FEI–CP swap was assessed at minus $37/mt, down from minus $36/mt the previous day.

The July propane–butane CP swap was evaluated at $27/mt on the basis of two trades reported during the end-of-day trading session on May 8, up from $26/mt in the prior session.

The front-month July Aramco propane CP swap was assessed at $548.50/mt on May 8, an increase from $546/mt the previous session, despite a decline in the front-month July Brent crude futures, which fell to $61.74/b from $62.72/b over the same period.

The Persian Gulf–Japan LPG freight rate was assessed at $51.30/mt on May 8, rising from $49.45/mt on the previous day.

Additionally, Platts assessed FOB Persian Gulf spot cargo differentials against the May CP at plus $2/mt on May 8, unchanged from the prior session.

Source: Platts, S&P Global Commodity Insights – May 8, 2025