June 9, 2008

Saudi Aramco has increased the price for June Shipment

The recent hike in crude oil prices has an impact on all petroleum derivatives as well. The World's largest refiner and crude supplier has raised the prices for the June shipment according to Bloomberg.

Saudi Aramco has raised prices of cargoes loading in June to a record price, . Propane has been raised 6% from last month to to $895 a metric ton, while Butane has risen 7% to $920 a ton. The price increases come after crude oil costs rose to record highs last month.

Following the above, the cost of bitumen, may subject to rise.

Source - ameinfo.com

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