Europe bemoans mild weather

摘要

Unseasonably mild weather in northwest Europe for November and the first two weeks of December, and an excess of imports left propane prices under strong selling pressure and primary stocks at full levels. European LPG trading firms awaiting a seasonal pick-up in propane prices had a disappointing start to the winter. Prices sank in early December to steep discounts of $60/t below naphtha, with benchmark large cargo propane levels on a cif Amsterdam-Rotterdam-Antwerp (ARA) basis struggling to remain above $800/t.