CP in July

CP in July is USD 360.0, which is increased by 10 USD from June
C3 : USD 360.0/ C4 : USD 340.0

The crude oil market, which hit a historical crash in April, had a sharp rebound this month. This is caused by followings factors; Saudi has ceased big discount and increased the adjustment price for every brand of oil shipped for Asia, Iraq and Kazakhstan made a plan to resolve their exceeding production amount in May by additional reducing amount during July to September, the number of operation of oil excavation rigs in the US decreased significantly in recent 10 years. Even in these circumstances, demand and supply have been in balance in LPG market because of following reasons; off-demand season is coming, concerns for the second pandemic of coronavirus, plenty of inventory in big consuming countries China and India. Thus the CP price increased by 10 USD from June. The gap of price between Propane and Butane is still 20 USD due to Butane’s extra inventory.