- The Nov/Dec CP Propane Swap Contango is now $4.5-$6.25/mt- Saudi Aramco accepts Nov nominations with no cuts, some



Advancements valued November CP
propane swaps Oct. 18, at $549.5-$569.36/mt. This was $4.5-$6.35/mt lower than
the October term CP and $40.5-$45.10/mt less than the October term CP. The November/December CP
propane swap contango decreased by 50 cents/mt to $4.5-$5.20/mt on Oct. 18. While
the December/January CP contango remained steady at $2-$4/mt, October 18th traders reported that Saudi Aramco accepted
November-loading LPG cargo noms. There were no delays or cuts and some loading
dates were advanced. Sources said this
affirmed Aramco's commitment that term exports will remain stable despite the
OPEC+ decision to reduce oil production by 2,000,000 barrels per day. Although OPEC+ producers were expected to reduce crude
production starting in November, traders indicated that...