Prices Back Off With Financial Uncertainty

摘要

The worldwide financial crisis, coupled with the arrival of the "summer doldrums," pushed the crude oil and LPG markets into bearish modes in early August. There was still some activity in the large propane market in Northwest Europe, where a few cargoes of propane were set to be imported to top-up inventories and supply the petchem industry. Prices for large, fully refrigerated cargoes stood at $810-$815 (U.S.) per tonne cif Northwest Europe, having softened during July by $80 per tonne. There was also some demand from the propane coaster market where prices had fallen by about $35 per tonne from early July to $800 per tonne fob Amsterdam/ Rotterdam/Antwerp (ARA).