LPG Prices Soar as Saudi Aramco Outage Prompts Ship to Reroute

Asian liquefied petroleum gas prices surged to the highest in almost a year following an outage at an export terminal in Saudi Arabia, with at least one ship seen rerouting to the US for supplies.

Swaps for LPG delivered into East Asia next month spiked to more than $600 a ton on Thursday, according to data from Ginga Petroleum, the highest since March last year. Prices were responding to news that a support structure had collapsed at the Juaymah facility, prompting Saudi Aramco to cancel some scheduled deliveries.