INTERNATIONAL LPG PRICES STEADY IN QUIET MARKET
International LPG prices were little
changed in the past week, barely affected by the excitement on
the advent of OPEC's mid-year meeting, traders and industry
sources said.
    "If the OPEC decides to increase crude oil production," a
traders said, "LPG supplies will be up without corresponding
rise in demand."
    Petrochemical buyers were sidelined, after their foray in
the market early in june, they said.
    An industry meeting in Dublin this week also drew many
market participants away from the trading desk, they added.
    Algeria has moved at least two cargoes of propane to the
U.S. Gulf, keeping Mediterranean prices steady, traders said.
    In the Mideast Gulf, propane appeared easing slightly,
after a major U.S. oil company bought propane on formula which
netted back about 123 dlrs, cif Mideast Gulf, which was two
dlrs below Saudi Arabia's government selling price (gsp),
industry sources said.
    Delivered propane to Japan was quoted at gsp plus 19 dlrs
and butane at gsp plus 25 dlrs, the traders said.
 Reuter
